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| *Loan,banking and credit>>>disability insurance |
Are short-term and long-term disability insurance costs deductible as medical expenses on fed. income tax? |
I chose to purchase this insurance and the cost is deducted from my paycheck by my employer. Disability premiums are not deductible. But, if you ever collect from this policy, since you paid the premiums with before-tax dollars, the benefits are tax-free to you. A good deal, IMHO. No. Long-term care insurance is deductible, but not disability insurance. |
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