To amend the Internal Revenue Code of 1986 to exclude from gross income amounts withdrawn from individual retirement plans for payment of long-term care insurance premiums.

Summary

Amends the Internal Revenue Code to exclude from gross income any distribution from an individual retirement plan if: (1) the payee has attained age 59 1/2 on or before the date of distribution; and (2) the distribution is used during the taxable year to pay premiums for a long-term health care insurance policy covering necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services for the payee or a spouse meeting the same 59 1/2 year age requirement.

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Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 April 1989

  Open at official source

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