Not all taxpayers will be able to deduct the cost of Long Term Care insurance on their Federal taxes. Even though a Federal deduction may not apply, taxpayers may be able to take state tax deductions related to their long term care insurance.
The Littleton Independent has published a helpful article on the subject along with a table of maximum deductible long term care premiums.
Maximum long-term care premium limits for taxpayers (qualifications apply)
2007/2008
Age 40 or less: $290/$310
Age more than 40 but not more than 50: $550/$580
Age more than 50 but not more than 60: $1,110/$1,150
Age more than 60 but not more than 70: $2,950/$3,080
Age more than 70: $3,680/$3,850
Tax Deductibility and long-term care insurance