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Missouri Long-Term Care Insurance Deduction

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Question
Missouri Long-Term Care Insurance Deduction

Answer

If you paid premiums for qualified longterm care insurance, you may be eligible for a deduction on your Missouri income tax return. Qualified long-term care insurance is defined as insurance coverage for a period of at least 12 months for long-term care expenses should such care become necessary because of chronic health conditions and/or physical disabilities including cognitive impairment or the loss of functional capacity, thus rendering an individual unable to care for themself without the help of another person.

Complete the worksheet only if you paid premiums for a qualified long-term care insurance policy; and the policy is for at least 12 months coverage.

Note: You can not claim a deduction for amounts paid toward death benefits or extended riders.

 


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Article Details
Views: 1312 Created on: Jun 15, 2013
Date updated: Dec 31, 2018
Posted in: States, Missouri

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