2013 LTCi TAX Limits

2013 Tax Limits for LTCi Announced

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THE IRS has released the 2013 limits  (Rev Procedure 2012-41)

Attained Age Before Close of Taxable Year
      40 or less                                                   $ 360         (2012 is $350)
      More than 40 but not more than 50     $ 680          (2012 is $ 660)
     More than 50 but not more than 60     $1,360       (2012 is $1,310)
      More than 60 but not more than 70      $3,640      ($3,500)
      More than 70                                             $4,550      ($4,370)

For calendar year 2013, the per-diem limitation under Section 7702B(d)(4) for periodic payments received under a qualified long-term care insurance contract is $320 (the 2012 limit was $310).