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(202) 669-2393 Vienna, Virginia

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Major Tax Changes for Year 2011

Long-term Care Insurance Premiums Deductible

Premiums paid for a qualified long-term care insurance contract are a medical expense, but the deductible amount of the premium is limited by age of the individual at the close of the tax year.

Age

2011

2010

2009

40 or under

$340

$330

$320

41 to 50

$640

$620

$600

51 to 60

$1,270

$1,230

$1,190

61 to 70

$3,390

$3,290

$3,180

71 or older

$4,240

$4,110

$3,980

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