New LTC Deductibility Levels

The IRS has set new deductibility limits for long term healthcare policies in 2008. If you itemize deductions you can claim a deduction for LTC premiums up to the following limits.

Age 2008 Deductible Limit

40 or less $310
40-50 $580
50-60 $1,150
60-70 $3,080
70 or older $3,850