If you paid premiums for qualified long-term care insurance, you may claim a credit against your personal income tax equal to 20% of the premiums paid during the tax year for the purchase of or for continuing coverage under a qualifying long-term care insurance policy. For tax years beginning after 2020, the credit has been adjusted to allow a New York resident taxpayer to claim the credit only if the taxpayer’s New York adjusted gross income (NYAGI) is less than $250,000. The change also limited the credit amount to $1,500.
- Estate or trust
- Partner in a partnership (this includes members of an LLC treated as a partnership for federal tax purposes)
- Shareholder of a New York S Corporation
- Beneficiary of an estate or trust
To claim this credit with the program, please go to:
- State Section
- Edit New York Return
- NY Longer Term Care Insurance Credit (IT-249)
For additional information and qualifications, please see the instructions for Form IT-249-I.