×
tax forms found in
Tax Form Code
Tax Form Name

Minnesota Free Printable 2020 M1LTI, Long-Term Care Insurance Credit for 2021 Minnesota Long-Term Care Insurance Credit

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2020-minnesota-form-m1lti.pdf, and you can print it directly from your computer.

Long-Term Care Insurance Credit
2020 M1LTI, Long-Term Care Insurance Credit

2020 Schedule M1LTI, Long-Term Care Insurance Credit Your First Name and Initial *201811* Last Name Social Security Number If you (or your spouse, if filing a joint return) paid premiums in 2020 for a qualified long-term care insurance policy, complete this schedule to determine the amount of the credit you may claim when filing Form M1. To qualify for this credit, both of the following must apply to your long-term care insurance policy: • It qualifies as an itemized deduction (see Schedule M1SA, Minnesota Itemized Deductions), disregarding the income test • It has a lifetime long-term care benefit limit of $100,000 or more There are no separate instructions for Schedule M1LTI. Policy Information (only one qualifying policy per person): Name of Insured Insurance Company Provide the information in the appropriate column for each insured person. If you are filing a joint return and both you and your spouse are covered by one policy, use half of the premiums in column A and half in column B (below). Policy Number Round amounts to the nearest whole dollar. A —You B —Spouse 1 Premiums paid in 2020 for the qualifying long-term care insurance policy . . . . . . . . . . . . . . . . . 1 Did you file Schedule M1SA? • If no, skip lines 2, 3, and 4, and enter line 1 on line 5. • If yes, continue with line 2. 2 Amount of premiums paid on this policy that are included on line 1 of Schedule M1SA . . . . . . . 2 3 Amount from line 4 of Schedule M1SA (If you and your spouse are claiming premiums paid, enter half of this amount in each column) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Amount from line 2 or line 3, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Subtract line 4 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Multiply line 5 by 25% (.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 The maximum credit is $100 per person . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 100 8 Amount from line 6 or line 7, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Add line 8, columns A and B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Full-year residents: Also enter this amount on line 2 of Schedule M1C. Part-year Residents and Nonresidents 10 Multiply line 9 by line 30 of Schedule M1NR. Enter the result here and on line 2 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0 You must include this schedule with your Form M1. 9995 100
Extracted from PDF file 2020-minnesota-form-m1lti.pdf, last modified November 2019

More about the Minnesota Form M1LTI Individual Income Tax Tax Credit TY 2020

We last updated the Long-Term Care Insurance Credit in February 2021, so this is the latest version of Form M1LTI, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form M1LTI directly from TaxFormFinder. You can print other Minnesota tax forms here.

Other Minnesota Individual Income Tax Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form M1 Individual Income Tax Return
Form M1 Instructions Minnesota Individual Income Tax Instructions (Form M1)
Form M1PR Instructions Homestead Credit Refund and Renter’s Property Tax Refund Instruction Booklet
Form M1PR Homestead Credit Refund (for Homeowners) and Renters Property Tax Refund
Form M1M Income Additions and Subtractions (onscreen version)

Download all MN tax forms View all 96 Minnesota Income Tax Forms


Form Sources:

Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form M1LTI from the Department of Revenue in February 2021.

Show Sources >

Form M1LTI is a Minnesota Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Minnesota Form M1LTI

We have a total of ten past-year versions of Form M1LTI in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form M1LTI

2020 M1LTI, Long-Term Care Insurance Credit

2019 Form M1LTI

2019 M1LTI, Long-Term Care Insurance Credit

2018 Form M1LTI

2018 M1LTI, Long-Term Care Insurance Credit

2017 Form M1LTI

2017 M1LTI, Long-Term Care Insurance Credit

2016 Form M1LTI

2016 M1LTI, Long-Term Care Insurance Credit

2015 Form M1LTI

2015 M1LTI, Long-Term Care Insurance Credit

Long-Term Care Insurance Credit 2014 Form M1LTI

2013 M1LTI, Long-Term Care Insurance Credit

2013 Long-Term Care Insurance Credit 2013 Form M1LTI

2012 M1LTI, Long-Term Care Insurance Credit

PDF Form Pack generated by formuPack 2012 Form M1LTI

PDF Form Pack

2011 Form M1LTI

2011 M1LTI, Long-Term Care Insurance Credit


TaxFormFinder Disclaimer:

While we do our best to keep our list of Minnesota Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/minnesota/form-m1lti