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Instructions for Form IT-249
for the current year.
Instructions for Form IT-249 Claim for Long-Term Care Insurance Credit - New York
This document contains official instructions for Form IT-249 , Claim for Long-Term Care Insurance Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-249 is available for download through this link.
FAQ
Q: What is Form IT-249?
A: Form IT-249 is a form used to claim the Long-Term Care Insurance Credit in New York.
Q: Who can claim the Long-Term Care Insurance Credit?
A: New York residents who paid premiums for long-term care insurance policies can claim the credit.
Q: What is the purpose of the Long-Term Care Insurance Credit?
A: The credit is meant to provide tax relief for individuals who have purchased long-term care insurance policies.
Q: What expenses are eligible for the Long-Term Care Insurance Credit?
A: Premiums paid for qualifying long-term care insurance policies are eligible expenses for the credit.
Q: What supporting documents do I need to include with Form IT-249?
A: You will need to attach a copy of the 1099-LTC form provided by your insurance company as well as any other supporting documentation.
Q: When is the deadline to file Form IT-249?
A: The deadline to file Form IT-249 is the same as the deadline for filing your New York State income tax return, usually April 15th.
Q: Can I claim the Long-Term Care Insurance Credit if I am not a New York resident?
A: No, the credit is only available to New York residents.
Q: Is there a maximum credit amount for the Long-Term Care Insurance Credit?
A: Yes, the maximum credit amount is $1,500 per taxpayer.
Q: Can I carry forward any unused credit to future tax years?
A: No, the credit cannot be carried forward to future tax years.
Instruction Details:
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- Might not be applicable for the current year. Choose a more recent version;
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