{"id":363,"date":"2016-08-27T02:45:24","date_gmt":"2016-08-27T02:45:24","guid":{"rendered":"https:\/\/0c8fb60.netsolhost.com\/en\/?p=363"},"modified":"2022-11-16T03:30:34","modified_gmt":"2022-11-16T03:30:34","slug":"281-long-term-care-premiums-in-s-corps","status":"publish","type":"post","link":"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/","title":{"rendered":"Long Term Care Premiums in S Corps"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Can you deduct Long Term Care Preimums the same as Health Insurance for the greater than 2% Shareholder.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Answer is &#8230;. sort of&#8230;.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The way the math works\u2026\u2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s say LTC is $6,000<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Age based LTC for age 61 to 70 is $3,900<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Step 1:&nbsp; The S Corp deducts the entire $6k (<em>even if the Shareholder pays it personally<\/em>).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Step 2: Box 1 on the W2 is increased by $6k.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Step 3: Box 14 on the W2 includes the aged based allowable amount $3.9k.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Result<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, steps 1 and 2 cancel each other.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Step 3 allows 100% of the allowable deduction ($3.9k) to be deducted on the front of the individual tax return, same as regular health insurance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Can you deduct Long Term Care Preimums the same as Health Insurance for the greater than 2% Shareholder. Answer is &#8230;. sort of&#8230;. The way the math works\u2026\u2026. Let\u2019s say LTC is $6,000 Age based LTC for age 61 to 70 is $3,900 Step 1:&nbsp; The S Corp deducts the entire $6k (even if the [&#8230;]<\/p>\n<p><a class=\"understrap-read-more-link\" href=\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/\">Read More&#8230;<span class=\"screen-reader-text\"> from Long Term Care Premiums in S Corps<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,14],"tags":[],"class_list":["post-363","post","type-post","status-publish","format-standard","hentry","category-general","category-llc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Long Term Care Premiums in S Corps - USA Tax Help<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Long Term Care Premiums in S Corps - USA Tax Help\" \/>\n<meta property=\"og:description\" content=\"Can you deduct Long Term Care Preimums the same as Health Insurance for the greater than 2% Shareholder. Answer is &#8230;. sort of&#8230;. The way the math works\u2026\u2026. Let\u2019s say LTC is $6,000 Age based LTC for age 61 to 70 is $3,900 Step 1:&nbsp; The S Corp deducts the entire $6k (even if the [...]Read More... from Long Term Care Premiums in S Corps\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/\" \/>\n<meta property=\"og:site_name\" content=\"USA Tax Help\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-27T02:45:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-16T03:30:34+00:00\" \/>\n<meta name=\"author\" content=\"LONYOUNG\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"LONYOUNG\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/\"},\"author\":{\"name\":\"LONYOUNG\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#\/schema\/person\/42e3184ba509e75d345d3e43f1dff839\"},\"headline\":\"Long Term Care Premiums in S Corps\",\"datePublished\":\"2016-08-27T02:45:24+00:00\",\"dateModified\":\"2022-11-16T03:30:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/\"},\"wordCount\":112,\"publisher\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#organization\"},\"articleSection\":[\"General\",\"LLC\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/\",\"url\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/\",\"name\":\"Long Term Care Premiums in S Corps - USA Tax Help\",\"isPartOf\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#website\"},\"datePublished\":\"2016-08-27T02:45:24+00:00\",\"dateModified\":\"2022-11-16T03:30:34+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/general\/281-long-term-care-premiums-in-s-corps\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.usataxhelp.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Long Term Care Premiums in S Corps\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#website\",\"url\":\"https:\/\/www.usataxhelp.com\/en\/\",\"name\":\"USA Tax Help\",\"description\":\"Young &amp; 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