Form CT-249 Claim for Long-Term Care Insurance Credit - New York

What Is Form CT-249?

This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form CT-249?
A: Form CT-249 is a form used in New York to claim the Long-Term Care Insurance Credit.

Q: What is the Long-Term Care Insurance Credit?
A: The Long-Term Care Insurance Credit is a credit provided by the state of New York to eligible individuals who have long-term care insurance policies.

Q: Who can claim the Long-Term Care Insurance Credit?
A: New York residents who have a qualifying long-term care insurance policy can claim the credit.

Q: What is the purpose of the Form CT-249?
A: The purpose of Form CT-249 is to allow eligible individuals to claim the Long-Term Care Insurance Credit on their New York state tax return.

Q: What information is required on Form CT-249?
A: Form CT-249 requires information about the taxpayer, the long-term care insurance policy, and the amount of premium paid.

Q: Is the Long-Term Care Insurance Credit refundable?
A: No, the Long-Term Care Insurance Credit is not refundable. However, any excess credit can be carried forward for up to 5 years.

Q: Are there any income limitations for claiming the Long-Term Care Insurance Credit?
A: Yes, there are income limitations for claiming the Long-Term Care Insurance Credit. The credit is phased out for taxpayers with higher incomes.