What is the Credit for Long-Term Care Insurance Premiums Paid?
You may be able to claim a credit against tax based on any premiums you paid in 2018 for a qualified long-term care insurance policy for which you did not receive a federal tax benefit.
To qualify, your long-term care insurance policy must:
- qualify as an itemized deduction (see Schedule M1SA, Minnesota Itemized Deductions), disregarding the 7.5 or 10 percent income test, and
- have a lifetime long-term care benefit limit of $100,000 or more.
The maximum credit is $100 per person.