Eligible Long-Term Care Premium Limits
For 2020, 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:
The limit on premiums is for each person.
Itemized Deductions – Medical Expenses
The medical expense deduction threshold is 7.5% of adjusted gross income (AGI).