When clicking on "Long Term Care Insurance Premiums Paid in 2024" for New York State, I am taken to a K-1 form. Is this a glitch?

[ama114]

TurboTax should ask for my LTCI premium, not send me to a K-1 form. I expect this is a coding error, but I want to be sure TurboTax is aware of this problem.

[RobertB4444]

Please clarify - where are you seeing this entry?  Long term care insurance expenses should be entered under medical expenses.  There is a screen for insurance expenses that just has a box for your premiums.  What screen are you on that is taking you to a K1?

@ama114 

[ama114]

Thanks for responding. I entered the LTCI premium on the 1040 medical deductions section. The problem link is in the New York State credits and taxes page. Clicking on "Update" next to Long Term Care Insurance takes me to "Enter Schedule K-1." See the screenshot of the bad link page below.

Alan

[DawnC]

Taxpayers who pay premiums for qualified long-term care insurance may claim a credit against their personal income tax. The credit is equal to 20% of the premiums paid during the tax year for the purchase of or for continuing coverage under a qualifying long-term care insurance policy.

For tax years starting on or after January 1, 2020, the current year credit is limited to $1,500. Also, the credit is not allowed if New York adjusted gross income is $250,000 or more.

Try clearing your cache.   If you entered the premiums on the federal return, they don't get entered again.   And is your AGI under the $250K limit?

When I clicked on Start, I got the following 3 screens.  

[ama114]

Thanks for replying, but my problem is with the link in the New York State return, not the federal questionnaire where I successfully entered my Long Term Care Premium. So the problem remains.

[JotikaT2]

The New York program might not have been fully updated when you originally posted.  I've just gone through the state interview section again and was able to proceed as follows.

When selecting update to the right of Long Term Care Insurance Premiums Paid in 2024, you will get to a screen titled Long-Term Care Insurance Credit. 

Assuming you are not a member of an S-corporation, partner of a partnership, or a trust beneficiary, you will be able to select no on this screen.  This will generate the credit and allow you to proceed with your state return.

[ama114]

Thanks for the answer, but the Update link for LTCI Premiums Paid in 2024 still takes me to the K-1 screen. I have no K-1 info to add and am not an S-corp. For whatever reason, the NYS form has not been updated for me. I tried in two different browsers, cleared the cache, and deleted all Intuit cookies. No change.

[MaryK4]

@ama114 The New York long term care insurance credit is updated and you should be able to enter and complete your return.

[ama114]

This is still not working for me. When I try to update my Long Term Care Insurance Premium for 2024, I still get sent to a K-1 form. (see below) Perhaps my NY State TurboTax isn't updated? Is there a way to force an update to my NY State return?

[ama114]

It turns out that the link to the NYS LTCI update page did not work because I had put my LCTI premium in the federal return, even though I took the standard deduction. Once I deleted it from the federal return, the state return worked properly. Thanks for your help.