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February 12, 2025
Question

LTC Insurance Premium credit NYS

  • February 12, 2025
  • 1 reply
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In past years, I have input my Long Term Care Insurance premiums on my NYS tax return to receive a tax credit. I don't see any reference to that on the NY state Turbo Tax.

    1 reply

    February 18, 2025

    On your NYS return you only enter amount not entered on your federal return.

     

    To revisit that section on your federal:

    1. Open or log into Turbo Tax
    2. Go to Federal
    3. Go to Deductions and Credits
    4. Go to Medical then Medical expenses
    5. Continue until you get to the screen Tell us about anything paid for long-term care service. The information will carry over to your State return. 

    If you need to enter the amount on your state return:

    1. Open NYS return 
    2. On the screen You Just Finished Your New York Return Select Credits and Other Taxes
    3. On to the screen Take a look at New York credits and taxes
    4. Under You and Your Family select Long Term Care Insurance Premiums Paid in 2024 

     

    You may claim the credit only if your New York adjusted gross income (NYAGI) is less than $250,000. The credit amount cannot exceed $1,500.

    You cannot request a refund for any unused portion of this credit; however, you may carry it forward to future tax years indefinitely

    Instructions for Form IT-249 Claim for Long-Term Care Instruction Credit

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