Submitted By: someone
Answered: July 15, 2020 11:22 pm

My long-term care policy paid expenses to the assisted living facility I live in. Am I taxed on these payments?

No. Payouts from a long-term care policy for long-term care are tax free.

advertisement
Tax Glossary

Inter vivos or lifetime trust

A trust created during the lifetime of the person who created the trust. If irrevocable, income on the trust principal is generally shifted to the trust beneficiaries.

More terms