Questions & Answers

What is the Long-Term Care Credit?

An income tax credit is available for Colorado residents who purchase or make a payment for a long-term care insurance policy. The credit is equal to 25% of the amount paid for the insurance during the year. The amount of the credit claimed may not exceed $150 per policy.

To qualify for the long-term care insurance credit, you must
  1. Be a Colorado resident,
  2. Purchase or pay for a long-term care insurance policy for yourself or your spouse, and
  3. Not have income in excess of applicable limitations.
See Colorado Income Tax FYI Publication Income 37 for additional details.

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