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Retirement tax questions
This does not appear to be an error in TurboTax. Although the NY Long Term Care Premiums deduction is 20%, there is a $1,500 limit and this is a non-refundable credit. Also, if your income is greater than $250,000, you are not eligible for the credit. Since this is a non-refundable credit, if you did not have any NY tax liability, you would not see a benefit from this credit for the current tax year.
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March 3, 2025
2:44 PM