How do I create Form 1099-LTC?

Creating Form 1099-LTC

  1. Click on the Payer List button.
  2. Double click on the payer name.
  3. Highlight the recipient to add the form to.
  4. Click on the Add Form button.
  5. Choose 1099-LTC from the Form Type drop down menu.
  6. Fill in the necessary fields on the form:
    • Corrected:  Check this box if it applies.
    • Gross LTC benefits paid:  Enter the gross long-term care benefits paid this year (other than accelerated death benefits).  
    • Accel. Death benefits paid:  Enter the gross accelerated death benefits paid under a life insurance contract this year to or on behalf of an insured that has been certified as terminally or chronically ill.  
    • Per Diem:  Check box to indicate if the payments were made on a per diem basis.
    • Reimbursed Amt.:  Check box to indicate if the payments were made on a reimbursed amount.  
    • Insured's taxpayer identification no.:  The insured's social security number or employer identification number. Must be nine digits. This field is required.   
    • Insured's name:  Enter name of the insured. This field is required.
    • Street address:  Enter street address of the insured. This field is required.   
    • City:  Enter city. This field is required.  
    • State: Enter state. This field is required.  
    • Zip code:  Enter zip code. This field is required.  
    • Qualified Contract:  Check if benefits were from a qualified long-term care insurance contract.
    • Chronically Ill:  Check if chronically ill.
    • Terminally Ill:  Check if terminally ill.
    • Date certified: Enter certification date. 
    • Account Number:  A number assigned to recipient by the payer.  This field is optional except for the following cases:
      • The recipient has multiple returns for the same return type.
      • The returns are filed using the E-file Center.
  7. Click Save.  
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