Test Id: $289365781$

Requ

Question #$10$ of $50$

Question ID: $637730$

Ques

John has a tax$-$qualified indemnity long$-$term care insurance policy. The annual

Retri

cost of his care in a long$-$term care facility is $$102,200.$ The annual benefits from

Retri

his long$-$term care insurance policy amount to $$104,400.$ How will his benefits be taxed?

Inact

A$)$ A total of $$2,200$ will be taxed.

Attems

B$)$ Ten percent of his benefits will be taxed.

C$)$ His benefits will be free from income taxation.

D$)$ The amount divided by the IRS's daily benefit limit for an indemnity policy will be taxed.