An identified issue with reporting Long-term Care Insurance Premiums is expected to be resolved this week. Once the fix is scheduled to go live, we will post this information in a new blog post.
The Issue:
As an example, let’s say the taxpayer is 72 years old. The preparer visits the Itemized Deduction>Medical and Dental Expenses>Long-Term Care Premiums menu. The preparer claims the allowed premium amount for taxpayers aged 70 or older of $5,110 and saves the entry. The Quality Reviewer then comes behind to verify the entry. Accessing the LTCP menu, they see the preparer correctly entered $5,110 so they click “Continue” to exit the screen and move on. The issue is that the screen is incorrectly validating the correct entry by saying the “Premiums paid can not exceed $410” which would be true if the taxpayer was age 40 or younger.
The Workaround:
When this validation is incorrectly applied to the entry screen for LTCP, instead of clicking “Continue” to move on, click “Cancel”. Clicking cancel will take you out of the screen without kicking off a calculation which is causing the incorrect validation to show. Now, the initial entry made and saved is still on the return. The fix, when pushed live, will allow users to correctly click “Continue” without causing an incorrect validation to show.