Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Important Changes This Year

Standard and Itemized Deductions

Eligible Long-Term Care Premium Limits

For 2018, the maximum amount of qualified long-term care premiums includible as medical expenses has increased. Qualified long-term care premiums, up to the amounts shown below, can be included as medical expenses on Form 1040, Schedule A, Itemized Deductions or in calculating the self-employed health insurance deduction:

  • $420 - age 40 or under
  • $780 - age 41 to 50
  • $1,560 - age 51 to 60
  • $4,160 - age 61 to 70
  • $5,200 - age 71 and over

The limit on premiums is for each person.

Itemized Deductions – Medical Expenses

Effective for taxable years beginning after December 31, 2016 and ending before January 1, 2019, the deduction for medical expenses is allowed to the extent that the expenses exceed 7.5% of adjusted gross income (AGI). After tax year 2018, the medical expense AGI limitation reverts to 10%.