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John has a tax - qualified indemnity long - term care policy. The annual cost of his care in a long - term care facility

John has a tax

-

qualified indemnity long

-

term care policy. The annual cost of his care in a long

-

term care facility is $

102, 200 .

The annual benefits from his long

-

term care insurance policy amount to $

104, 400 .

How will his benefits be taxed?

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