If I paid someone to sit with my mom and got reimbursed for part of the cost from a long term care insurance. Do i deduct the reimbursement from 1099-misc. wages?
2007-02-23 18:54:11 · 4 answers · asked by big_bi 1 in Business & Finance ➔ Taxes ➔ United States
Long Term Care Reimbursements are not deducted from the return nor are they included in income, You paid someone, then you were reimbursed that money.
2007-02-24 00:17:16 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Reimbursements would be subtracted from anything you paid out for medical espenses or for dependent care before figuring any deductions or credits based on those amounts. So if you are claiming your mom as a dependent and are claiming a credit for dependent care expenses for her so you can work, you would only claim the amount paid out that was NOT reimbursed when figuring the credit.
2007-02-24 20:37:04 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
The long term care reimbursement is a rewduction in medical expenses that would posssibly be deductible. It would never be a deduction of your 1099 income because it is money you received not money you paid.
2007-02-24 06:59:27 · answer #3 · answered by waggy_33 6 · 0⤊ 2⤋
i didn't get . but as you need ti file the taxes i suggest you a site where you can file your taxes online and get benefited. byee
2007-02-24 06:22:33 · answer #4 · answered by Anonymous · 0⤊ 2⤋