Questions & Answers

What is the Long-Term Care Insurance Credit?

A one-time credit may be claimed against state income tax for the payment of qualified long-term care (LTC) insurance premiums as defined by the Internal Revenue Service (Publication 502) for a policy to insure yourself, your spouse, parent, stepparent, child, or stepchild who is a resident of Maryland and was NOT covered by long-term care insurance before July 1, 2000.

The credit is equal to the LTC premiums paid with a maximum per insured of:

  • $420.00 for a person 40 years or under
  • $500.00 for a person over 40 years old

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