You may claim this tax credit if you purchase insurance to provide long-term care coverage for yourself or your spouse, such as nursing home coverage. To be eligible for the Long-Term Care Insurance Credit, both of the following must be true:
The credit amount is equal to 25 percent of the policy premium(s), up to $100 per beneficiary. For married couples, one policy covering both spouses will be eligible for the $200 maximum credit; separate policies or premiums are not required. View the statute (M.S. 290.0672) . To claim the credit, complete the following forms and include them with your Minnesota income tax return:Schedule M1LTI, Long-Term Care Insurance CreditSchedule M1C, Other Nonrefundable Credit
