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Are Health Insurance Premiums Tax Deductible
Yes, you can deduct premiums for qualified long-term care insurance if they are more than 7.5% of your adjusted gross income. However, the IRS limits the total amount of annual premiums that you can deduct based on your age. The 2023 deduction limits for ages 40 and under, 41 – 50, 51 – 60, 61 – 70, and 71 and older are $480, $890, $1,790
Actived: 3 days ago
URL: https://www.doola.com/blog/are-health-insurance-tax-deductible/
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