What is "carryforward credit" on my Long Term Care insurance, where do I find it and how do I enter and receive credit for LTC insurance on VA state return?

[Juha · Accepted solution]

A tax carryforward is an IRS or state income tax rule that allows a taxpayer to save an unused deduction, credit, or loss, and use it in a later year. This situation most often occurs when the IRS or a state's revenue department places a limit on the amount that can be deducted for certain items in any one year.

For further information, please see: http://www.irs.gov/instructions/i3800/ch01.html

You may report your tax credit carryforward from Form 8801 under Deductions & Credits >> Estimates and Other Taxes Paid >> Credit for AMT Paid in Prior Year

Or go to the Find box at the top right side of the TurboTax header. Type in "8801", hit Enter, and click on  "jump to 8801" to go directly to beginning of this topic.