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Mythra
Level 2

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

 
13 Replies
MaryK1101
Expert Alumni

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

No the taxable value can be found on the property tax statements sent to the owner by the county, city, township or village office.  You should not have to enter if you were a renter.  I would suggest going to that section in the state review and go through the questions again.

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Carl
Level 15

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

The tax value of real estate can only be found on the property tax bill that is sent to the owner of the property. If you are a renter and do not own the property, I see no reason for the program to be asking you for the tax value on the federal return.

However, some states give a "renter's credit" on the state return and "may" use the tax value to determine how much of a credit you get based on the tax value of the property and the amount of rent you paid to the owner of the property during the tax year.

If you are not the owner then obviously you will not be the one with the property tax bill. However, what  you seek is public knowledge. I would expect you to be able to find it on the website of the property tax appraiser for whatever county/city/township or other jurisdiction you are in.

Might be able to start at https://www.michigan.gov/taxes/0,4676,7-238-43535_43925---,00.html

Mythra
Level 2

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

Thank you. We've never had the form ask us that in the 4 years we've rented, so I'll go over the forms again. 

Mythra
Level 2

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

Thank you for the detailed answer. I'll check everything out. 

JotikaT2
Expert Alumni

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

No, you would not enter the rent for the year under the "Taxable Value of the Homestead".

 

The Homestead Property Tax Credit is available to the owner OR the renter.  

 

 

In TurboTax, you will enter the rent information starting with the following screen:

 

Renter or homeowner

 

Once you select "Renter", you will be prompted to enter information for your landlord, address, amount of rent paid, etc. 

 

This input will generate your Homestead Property Tax Credit.

 

 

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Mythra
Level 2

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

Thank you for the info. 

I did do that, and clicked renter, but it still asks me for the assessed value of the property. It doesn't make sense why it's asking for it, as it never has.

I'm wondering if because they ask if I'm a 100% disabled veteran, if that's why?

Any more thoughts?

Thanks.

JamesG1
Expert Alumni

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

Is the question on your Federal tax return?  Michigan tax return?  Or some other state tax return?

 

Michigan does have a Homestead Property Tax Credit. 

 

The credit cannot be claimed if total household resources are over $60,000 or if the taxable value of the home exceeds $135,000.  This may explain the assessed value question.

 

See this help.

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Mythra
Level 2

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

Thank you. It's an apartment rental, and I've claimed it for 4yrs, but this year it's asking for the value? Makes no sense. It's the Michigan State form. I am a 100% disabled Veteran now, so I don't know why that would change this one thing. I have no other income, but my wife is disabled as well, and made $352 last year, so I don't make  anywhere near $60k. 

Anymore thoughts, and Thanks so much. 

KathrynG3
Expert Alumni

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

I recommend going back through the state interview questions. From the left menu, State>Continue>Michigan and Edit

Follow the prompts to revisit the Credit section.

 

You may be getting the Homestead Heating Credit, also.

 

Please check this article for more information. 

Error: "Household Member SSN is Invalid" in Michigan state review

 

We're expecting to resolve this issue on or around February 14.

Rosemarie a
Returning Member

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

are you serious...the lanlord does not share that information  i want to by pass this

Rosemarie a
Returning Member

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

thats crazy

DaveF1006
Expert Alumni

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

if you wish to bypass this completely, you can do so by deleting the Mi-1040CR form. Go to tax tools>tools>delete a form>delete MI-1040CR from your list of Michigan forms listed.

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Mythra
Level 2

It's asking for Taxable value of homestead (apartment we rented in Michigan). It's never asked that before when we filed. Do we add up the rent for the year and put that?

It's all fixed, and the landlord helped us with everything. So nice to have a caring and fantastic landlord. 

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