Solved
Medicare part b premiums deducted from Soc Sec benefits, Can they be claimed o NYS return
as long term care insurance on form IT-249?
No, according to the NY State tax department website here: https://www.tax.ny.gov/pdf/2011/inc/it249i_2011.pdf
A qualifying long-term care insurance policy is one that
— is approved by the New York State Superintendent of
Insurance under Insurance Law section 1117 (g); and
— is a qualified long-term care insurance contract under
Internal Revenue Code (IRC) section 7702B. (Note that
section 7702B relates to policies for which a federal
itemized deduction is allowed.)
or
— is a group contract delivered or issued for delivery outside
New York State; and
— the group contract is a qualified long-term care insurance
contract under IRC section 7702B. The premiums paid
for this insurance qualify for the credit even if the policy
is not approved by the New York State
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