Short answer: Yes, as part of the self-employed health insurance deduction, but only up to the age-based eligible premium limit for each person (for 2026, $500 to $6,200), and not for any month the person could join an employer-subsidized LTC plan through their own or a spouse’s employer.
Self-employed people with a net profit, including general partners and more-than-2% S corporation shareholders who receive wages, may deduct health insurance premiums, including qualified long-term care insurance, for themselves, a spouse and dependents as an adjustment to income rather than an itemized deduction. The plan must be established under the business, and the deduction cannot exceed earned income from it.
For LTC, only the eligible long-term care premium amount counts: for 2026, $500 at 40 or under, $930 at 41 to 50, $1,860 at 51 to 60, $4,960 at 61 to 70 and $6,200 over 70, per person. No deduction is allowed for any month in which the person was eligible for a long-term care plan subsidized by their employer or a spouse’s employer. When LTC premiums are included, the IRS directs the taxpayer to Form 7206 rather than the simple worksheet.