(301) 649-1600 Silver Spring, Maryland

(703) 538-2222 Vienna, Virginia

"Rational Solutions for Challenging Issues"

Major Tax Changes for Year 2009

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

2009

2008

2007

40 or under

$320

$310

$290

41 to 50

$600

$580

$550

51 to 60

$1,190

$1,150

$1,110

61 to 70

$3,180

$3,080

$2,950

71 or older

$3,980

$3,850

$3,680

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