Long Term Care Certification Practice Test 2025 – Complete Exam Prep

Question: 1 / 400

For personal long-term care insurance, which portion of premiums is deductible?

5% of adjusted gross income

10% of adjusted gross income

The correct answer reflects that individuals can deduct long-term care insurance premiums on their taxes based on their adjusted gross income (AGI). Specifically, taxpayers can deduct the amount of long-term care insurance premiums that exceeds a certain percentage of their AGI. This percentage is 10%, meaning that if the total premiums paid exceed 10% of an individual’s adjusted gross income, that excess can be deducted from taxable income.

This deduction aims to provide some financial relief to individuals who purchase long-term care insurance, encouraging them to plan for potential future healthcare needs. Understanding this deduction is vital for individuals looking to maximize tax benefits while ensuring adequate long-term care coverage.

Get further explanation with Examzify DeepDiveBeta

15% of adjusted gross income

20% of adjusted gross income

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy