Last updated: January 15th, 2024

Karp Loshak Long Term Care Insurance Solutions Resources

2022/2023 Federal Allowable Deductible Tax Summary
“Self-employed” business owners including: Sole Proprietor, Partner, S-Corporation, >2% shareholder/employee(W-2), Member of a LLC, or PC taxed as any of above a
re eligible for age banded allowable deductions. May also include spouse or other eligible tax dependents.

Eligible LTCI Premium in 2022/2023 (Indexed)
Deduction is NOT limited to 10% of AGI threshold.

Attained Age Before the Close of Taxable Year

Maximum Deduction for 2023

Maximum Deduction for 2022

40 or less



Age 41-50



Age 51-60



Age 61 - 70



Age 71 and older



Karp Loshak LTC Insurance Solutions Forms and Guides

To learn about the Long Term Care Insurance plan that is best for you, your loved ones, or your clients, contact us at 516.801.1419 or email