Discussion:Deductibility of nursing home insurance

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Discussion Forum Index --> Tax Questions --> Deductibility of nursing home insurance


KSCPA (talk|edits) said:

11 July 2007
If a Sub-S owner pays nursing home insurance premiums via his Sub-S, is there any deductibility? Does anyone know of any articles or IRS pubs that would deal with this subject? Thanks.

Death&Taxes (talk|edits) said:

11 July 2007
I presume these are the same as Long Term Care Insurance. To deduct that as a fringe benefit, you would have to be a C Corp. I believe the insurance would be considered Health Insurance in the S Corp, reflected on the W-2. There are many discussions on that issue here.

If treated as health insurance, the next caution is the limits caused by law based on age. Where that limit is reflected is not clear to me.

Riley2 (talk|edits) said:

11 July 2007
KSCPA, this is deductible by the corporation as wages. The shareholder may deduct this as SE Health Insurance on Form 1040 if the policy is "qualified". The deduction limit is found in Sec. 213(d)(10).
  • adding search terms: LTC SEHI

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