TiredSusan
Level 1
05-19-2020
02:10 PM
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My client got a 1099ltc with $40,000. as amount in Box 1. In box 3 the reimbursed amount box is checked. Company sent her letter stating she cancelled policy and made premium payments of $30,000. Is the didderence taxable and if so how do I report it? (will not go on Form 8853)
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Just-Lisa-Now-
Level 15
05-19-2020
02:20 PM
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DID it reimburse for medical expenses or not?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
TiredSusan
Level 1
05-23-2020
11:33 AM
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No it did not reimburse for any expenses. It was reimbursed for a cancelled policy.
TiredSusan
Level 1
05-26-2020
11:10 AM
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No it was not a reimbusements for espenses. It was a return of premiums paid totalling $30,000. What about the excess $10,000. Is it taxable?