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.

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Tax Glossary

Kiddie tax

The tax on the investment income in excess of $1,700 (may change after 2007) of a child under age 18, based on the parents’ marginal tax rate and computed on Form 8615.

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