How to use or fill out Form IT-249 Claim for Long-Term Care Insurance Credit Tax Year 2023 with our platform
- Click ‘Get Form’ to open Form IT-249 in the editor.
- Begin by entering your name(s) and identifying number as shown on your tax return at the top of the form.
- In Schedule A, input the qualified long-term care insurance premiums paid for the current tax year in line 1. Multiply this amount by the credit rate (20%) in line 2 to calculate your credit in line 3.
- For partnerships or S corporations, complete Schedule B by providing the entity's name, type, and employer ID number.
- In Schedule C, enter your share of credits from partnerships and S corporations in lines 4 through 6. Sum these amounts in line 7.
- Complete Schedule D by listing beneficiaries and their respective shares of qualified long-term care insurance credit.
- Finally, compute total credits available for the current year in Schedule E by adding relevant amounts from previous schedules.
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