Reply To: 1099 LTC

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#5229
kaneohe
Participant

I don’t know the real answer to your question but perhaps this may be helpful https://mccannltc.net/resources/faq/reporting-benefits-to-the-irs

Seems like Boxes3/4 are key…………..if you have a qualified contract, you may not have to report. One good thing is that the amount you show is relatively small, so even if you had to report the whole amount as income, the added taxes might be $50 or so and if you left them out, the worse case is that IRS would bill you for that additional amount.