Arkansas

Deduction

“Eligible” long-term care insurance premiums may be deductible as medical expenses when such premiums are paid towards "qualified" long-term care insurance. The definition of “qualified” long-term care insurance is set forth in IRC Sec. 7702B(b)(1). This deduction for unreimbursed medical expenses can be taken only to the extent such expenses exceed 7.5% of the taxpayer’s AGI. (i.e. same deduction allowed federally.)