I did not need to pay taxes for 2022. Recently found out that I am eligible for Senior Housing Income tax credit. Can I amend my return and receive any payment?

[DoninGA]

On a federal tax return there is no such tax credit.  Are you referring to a state tax credit?  If so, which state?

[xmasbaby0]

There is no such federal credit, so you must be referring to a credit that is on a state tax return.  What state?   And what do you need to change in order to get the credit?   Did you file a 2022 federal and state tax return?   Has the state return been processed?

[dbennettdjb]

Sorry I wasn't more specific.  The credit is for Colorado State tax.  Taxes were filed in March.  But now realizing a credit may be available.   However, I didn't have much income and therefore did not pay any Colorado taxes.  

Trying to use form 104CF 

[DoninGA]

If you are eligible for this credit it is entered on Line 11 of the Colorado Form 104CR, Individual Credit Schedule for tax year 2022.

Your eligibility and the amount of the credit is based on your 2022 Federal Adjusted Gross Income, Form 1040 Line 11, age and filing status.  Review the questions and the tax credit table as shown on Colorado  DR 0104 instruction booklet on page 17 - https://tax.colorado.gov/sites/tax/files/documents/DR_104_Book_2022.pdf#page=17

If you filed your 2022 Colorado state income tax return then you will need to amend the return to add the Form 104CR, assuming that you are eligible for the credit.

[DoninGA]

Additionally, you must be a homeowner to be eligible for this credit.

[dbennettdjb]

Thanks for getting back.   So my basic questions is that I was not require to pay any taxes for 2022, either Federal or State of Colorado.   Am I able to get any money back from the State of  Colorado.   I'm interpreting that a credit goes against something I paid.  Just trying to validate this.  Thanks

[DoninGA]

@dbennettdjb The credit is a refundable credit.  Meaning that even if your tax liability is zero on the state tax return you can still receive this credit.

Please review the information on this Colorado state website to verify your eligibility for this credit - https://tax.colorado.gov/income-qualified-senior-housing-income-tax-credit

Note Step 5 -

5. Did you receive a partial property tax exemption for your primary residence under section 39-3-204 of the Colorado Revised Statutes (commonly known as the Senior Property Tax Exemption, Senior Homestead Exemption or Disabled Veteran Exemption) for the property tax year beginning January 1, 2022? The exemption should appear on your property tax statement from your county assessor. You may have been approved for the exemption by applying in a prior year. This exemption is generally allowed if one owner of a home is 65 years old as of January 1, and has occupied the home as a primary residence for at least 10 consecutive years.

• No: You qualify for this income tax credit. Continue to step 6 to calculate the amount of credit you are eligible to receive. 
• Yes: Stop, you do not qualify for this credit. 

[dbennettdjb]

Sorry for the late reply.  I am living in an assisted living facility and am not  homeowner.  So i guess i am not eligible.  Is that correct?