Minnesota – Schedule M1LTI – Long-Term Insurance Credit

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Article: 50551

Overview 

If you paid premiums for a qualified long-term care insurance policy, you may be eligible for the Minnesota Long-Term Care Insurance Credit. This nonrefundable credit is designed to help offset the cost of maintaining long-term care coverage for yourself, your , or dependents. 

To claim the credit, you must complete the Long-Term Care Insurance Credit form in your Minnesota state return, which corresponds to Schedule M1LTI. 

Who Is Eligible for the Credit? 

You may qualify for the credit if: 

  • You paid long-term care insurance premiums during the tax year. 
  • The policy covers qualified long-term care services under IRS guidelines. 
  • The premiums were not deducted elsewhere on your return (e.g., , HSA distributions, or employer-provided plans). 
  • You are a Minnesota resident. 

Note: The credit is nonrefundable, meaning it reduces your tax liability but will not result in a if no tax is owed. 

How to Report 

  1. Navigate to the State Taxes section on the left-hand side of the screen. 
  1. Click the link: I’d like to see the forms I’ve filled out or search for a form.
  1. In the dropdown menu, select Minnesota. 
  1. Click on the Credits tab. 
  1. Select Long-Term Care Insurance Credit to open the screen. 
  1. Enter all applicable information. 
  1. Click Save once complete. 

Additional Resources 

For further guidance, see:  

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state tax form tax credit tax deduction dependent estimated tax schedule k1 health insurance irs form refund tax return