IT-249: Claim for Long-Term Care Insurance Credit (2024)
New York · NY DTF · Used for tax years 2024
New York Form IT-249 is used to claim the long-term care insurance credit. It reports qualified premiums paid, credit shares received from partnerships, S corporations, estates or trusts, and the credit used or carried over.
Who files this form
Use Form IT-249 to claim the long-term care insurance credit for qualified premiums paid for the current tax year or to report a share of the credit received from a partnership, New York S corporation, estate, or trust.
The form includes sections for individuals, including sole proprietors, partnerships, and fiduciaries, as well as partners, S corporation shareholders, and beneficiaries. It also includes lines for credit carried over from last year.
What you'll need
Have the following information available to complete the form:
- Your name and identifying number as shown on your tax return.
- The amount of qualified long-term care insurance premiums paid for 2024.
- If you received a share of a credit, the entity’s name, type, employer identification number, and your share of the credit.
- Last year’s Form IT-249, if you have a credit carryover.
- For nonresidents and part-year residents, the income percentage from this year’s Form IT-203, line 45, or Form IT-205-A, line 12.
- Your New York adjusted gross income (NYAGI), tax due before credits, and credits applied before this credit.
Fiduciaries also need the beneficiary names shown on Form IT-205, Schedule C, their identifying numbers, and their shares of the credit.
How to file
Submit Form IT-249 with Form IT-201, IT-203, IT-204, or IT-205.
- Use Schedule A to calculate the credit on qualified premiums paid for the current tax year.
- Complete Schedule B for each entity from which you received a share of the credit, and report your share in Schedule C.
- Fiduciaries use Schedule D to report the beneficiary and fiduciary shares.
- Use Schedule E to total the credit available for the current year.
- Full-year New York State resident individuals, estates, and trusts complete Schedules F and H.
- Nonresident and part-year resident individuals, estates, and trusts complete Schedules G and H.
- Partnerships enter the Schedule E, line 11 amount on Form IT-204, line 145.
The supplied form does not give a mailing address or e-file directions.
Common mistakes
- Use the name and identifying number shown on your return.
- In Schedule B, use the printed entity codes: P for partnership, S for S corporation, and ET for estate or trust.
- If NYAGI is $250,000 or more, enter 0 on line 12a or line 15, as applicable.
- In Schedule G, if the income percentage exceeds 100%, enter 1.0000 on line 16.
- Apply the $1,500 limit on line 12b or line 17b before adding the carryover from last year.
- Submit IT-249 with the applicable tax return, as directed on the form.
Questions people ask
What credit rate does the form use?
Schedule A multiplies qualified long-term care insurance premiums paid for the current tax year by 20%.
How does income affect the current-year credit?
If your NYAGI is less than $250,000, line 12a or line 15 uses the credit from line 11. Otherwise, that line must be 0. The form limits the amount on line 12b or line 17b to $1,500 before adding any prior-year carryover.
How is the credit calculated for nonresidents and part-year residents?
Schedule G multiplies the amount on line 15 by the income percentage from Form IT-203, line 45, or Form IT-205-A, line 12. A percentage above 100% is entered as 1.0000. The resulting amount is then subject to the $1,500 limit on line 17b.
Does the form provide for carrying credit forward?
Yes. Schedule H, line 24 calculates the credit available to carry over to next year. Full-year residents subtract the credit used on line 23 from line 14. Nonresidents and part-year residents subtract line 23 from line 19.