WHERE CAN IF FIND THE MA SENIOR CIRCUIT TAX CREDIT IN MY MA STATE RETURN? IT IS NOT JUST FOR RENTERS PER YOUR KB.

Forum|Forum|4 years ago
March 1, 2022
1 reply
6 views

Your knowledge base claims it is only for renters, but it is for homeowners too. I am looking for it under other credits and cannot find it anywhere. Your wizard should have automatically asked me knowing my age and my income. I qualify for it.

TurboTax Deluxe Online

MaryK4

Level 15

In the Massachusetts state section look for the screen below.

Certain seniors who own or rent residential property in Massachusetts, as their principal residence, are eligible for a refundable tax credit.

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gardengal4Author

Level 2

Thanks but that doesn't help me if I don't know what the "parent" question is to get me there. That's the destination, not the door to open to get in!!! I clicked on Other Credits, Special Tax situations, etc. etc. and nothing about Circuit Breaker. I would have expected Turbo Tax to be more intuitive and offer up that wizard by default. Please be specific.

ErnieS0

Level 15

The Senior Credit Breaker Credit is on the Massachusetts Credits screen after the screen Pay Tax to Another State?

Who is eligible:

You must be a Massachusetts resident or part-year resident.
You must be 65 or older by January 1, 2022.
You must file a Schedule CB with your Massachusetts personal income tax return.
You must own or rent residential property in Massachusetts and occupy it as your primary residence.
For tax year 2021, your total Massachusetts income doesn't exceed:
- $62,000 for a single individual who is not the head of a household.
- $78,000 for a head of household.
- $93,000 for married couples filing a joint return.
If you are a homeowner, your Massachusetts property tax payments, together with half of your water and sewer expense, must exceed 10% of your total Massachusetts income for the tax year.
If you are a renter, 25% of your annual Massachusetts rent must exceed 10% of your total Massachusetts income for the tax year.
The assessed valuation of the homeowner's personal residence as of January 1, 2021, before residential exemptions but after abatements, cannot exceed $884,000.
The Schedule CB must be completed within 3 years from the last day for filing the return, without regard to any extension of time to file.