MD Long Term Care Insurance Credit

[MAMalody]

I have just run across this credit. Must it be taken in the first year there is a premium for the long tern care insurance?

[mactoolsix]

I don't know, but maybe this will help:

http://taxes.marylandtaxes.com/Individual_Taxes/General_Information/Tax_Credits_and_Deductions/Long-Term_Care_Insurance_Credit.shtml

And maybe it was changed in 2014?

https://www.comparelongtermcare.org/maryland-bill-would-create-tax-credit-for-long-term-care-insurance

[MAMalody]

Thanks for the link.

[JudyL]

link to the MD law, current as of 2015:

https://www.lawserver.com/law/state/maryland/md-laws/maryland_laws_tax-general_10-718

It doesn't say anything about having to claim it in the first year of the policy's existence, only that the credit can not have already been claimed for the insured in a prior year. You might want to check that the client didn't have any l/t care policy coverage before 7/1/2000 though.