Schedule M1lti - Long-Term Care Insurance Credit - 2017
Download a blank fillable Schedule M1lti - Long-Term Care Insurance Credit - 2017 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Schedule M1lti - Long-Term Care Insurance Credit - 2017 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1*171811*
2017 Schedule M1LTI, Long-Term Care Insurance Credit
Your First Name and Initial
Last Name
Social Security Number
If you (or your spouse, if filing a joint return) paid premiums in 2017 for a qualified long-term care insurance policy, complete this schedule
to determine the amount, if any, you can subtract from your tax when you file Form M1.
To qualify for this credit, your long-term care insurance policy must:
• qualify as a federal deduction (see federal Schedule A of Form 1040), disregarding the income test, and
• have a lifetime long-term care benefit limit of $100,000 or more.
There are no separate instructions for Schedule M1LTI.
Policy Information (only one qualifying policy per person):
Name of Insured
Insurance Company
Policy Number
Provide the information in the appropriate column for each insured person. If you are
Round amounts to the nearest whole dollar.
filing a joint return and both you and your spouse are covered by one policy, use half
of the premiums in column A and half in column B (below).
You
Spouse
A
B
1 Premiums paid in 2017 for the qualifying long-term care insurance policy . . . . . . . . . . . . . . . . . 1
Did you itemize deductions on your federal Form 1040?
•
If no, skip lines 2, 3, and 4, and enter line 1 on line 5.
•
If yes, continue with line 2.
2 Amount of premiums paid on this policy that are included on line 1 of federal Schedule A . . . . 2
3 Medical and Dental Expenses: Enter the amount from line 38 of federal Form 1040
here
. Multiply that amount by 10% (.10) and enter the result here
.
Subtract the result from line 1 of federal Schedule A and enter the result on line 3.
(If you and your spouse are claiming premiums paid, enter half of this amount in each column) 3
4 Amount from line 2 or line 3, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Subtract line 4 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
6 Multiply line 5 by 25% (.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
100
100
7 The maximum credit is $100 per person . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 Amount from line 6 or line 7, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
9 Add line 8, columns A and B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Full-year residents: Also enter this amount on line 1 of Schedule M1C .
Part-year Residents and Nonresidents
10
Multiply line 9 by line 25 of Schedule M1NR.
Enter the result here and on line 1 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0
You must include this schedule and Schedule M1C with your Form M1.
9995
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial