Yes - TurboTax does support Missouri Form MO-TC and the Champion for Children Tax Credit.
To
enter your contribution in TurboTax for calculating your Missouri
Champion for Children Tax Credit, please follow the following steps:
- In your return,
select State Taxes tab
- You will be
asked a series of interview questions regarding your income and potential
deductions and credits in Missouri. On the page entitled
"Miscellaneous Missouri Credits", click on Yes button to work on
these credits
- On "Choose
the Tax Credit" page, click on the blue down arrow in the first
Credit box. A drop-down list containing all Missouri tax credits
available will open.
- The Champion
for Children Tax Credit is the second-to-last credit in the
drop-down list, entitled "CFC". Select the CFC
credit and it will auto populate the Credit box.
-
In the box
entitled "Taxpayer Amount", please enter 50% of
the total contribution which you made to a qualified agency -
this is the maximum amount of tax credit for which you
are eligible, according to the Missouri Department of
Revenue Guide to the Champion for Children (CFC) Tax Credit. Please
note: the minimum contribution amount is $100.
- Click
on Continue button and proceed with finalizing your Missouri income tax
return. Your CFC tax
credit will be taken against your calculated Missouri income tax.
Please note: any unused Champion for Children Tax
Credit which exceeds your Missouri tax due may be carried forward
to the next four subsequent years, not to exceed a total of five
years.
