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CO long-term care premium deduction not calculating correctly
I have two long term care policies and the CO tax code says I should get the lesser of 25% of the premiums paid or $150 per policy. I have input premiums on both policies (they are both in excess of $600 so they both "cap out" at $150) but the software is only giving me a $150 credit instead of $300. Note, last year the credit was up to $140 per policy and I correctly filed with $280 of credit. When will this be fixed?
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‎February 7, 2024
2:51 PM