what kind of a account is long term care insurance fully paid

Kay Arnold
Kay Arnold Member ✭✭✭
edited January 2019 in Budgeting and Planning Tools (Mac)
Quicken 2017
Version 4.8.2 (Build 48.19926.100)
 have a fully paid ltc-death benefit insurance policy. I want to take money from an annunity and buy policy of which a portion will go to taxes and my personal income I have to claim that amount in tax this year how do I set this up?

Comments

  • Quicken Harold
    Quicken Harold Quicken Windows Subscription Alumni ✭✭✭✭
    edited January 2019
    Hello Kay, appreciate your question.

    We need some more information regarding what you would like to do with the insurance policy.

    There are ways to make this work for you, including setting up categories for your taxes and for personal income.

    Please provide us more information on what you would like to do..

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited January 2019
    Kay,
    I'm unsure as to what your situation is.  Are you using money from the annuity to fund the Insurance policy, or what?

    Please clarify so that we can help you further.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Kay Arnold
    Kay Arnold Member ✭✭✭
    My husband had a CD annuity and he passed away.  I took that basic annuity and bought a LTC death benefit policy.  The interest I have o pay taxes on.   But I like to be able to just do a transfer from the annuity account to my new policy.  I ended up doing 2 separate  transactions.  
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