It depends on several factors. Your LTCI contract must be a qualified one, you must itemize deductions on Schedule A of IRS Form 1040, and the total of your medical expenses (including your LTCI deduction) must exceed 7.5% of your adjusted gross income (AGI). Qualified LTCI premiums are deductible as medical expenses (subject to the 7.5% of AGI floor) within certain limits, based on your age.

Note: The threshold to deduct medical expenses is 7.5% of AGI.

If you bought your policy before January 1, 1997, and it met the requirements of the state in which it was issued, it is automatically considered a qualified policy. LTCI contracts issued subsequently are only considered qualified for a tax deduction if they meet certain federal standards. Qualified LTCI premiums are deductible as medical expenses (subject to the 7.5% of AGI floor) within the following limits in 2026, based on your age at the end of the tax year:

For more information, consult a tax professional.