MA septic credit - it says my available credit is 6,000 but can I take that this year or can I only take 1,500?

katybiagini · ‎June 1, 2019

I want to know can I take the 6,000 this year or do I only get to take 1,500 in credit this year?

JulieCo · ‎June 1, 2019

Yes, the maximum of the MA Septic Credit given is $6,000.

The credit is 40% (.40) of the costs (as long as they're $15,000 or less). The total amount of credit has to be less than $6,000.
When calculating the credit, subtract any interest subsidies you received from Massachusetts.
You can claim the credit for the year the repair or replacement work is completed.

But, the amount deducted on your return per year cannot exceed $1,500. Therefore, the excess is then carried over each year.

See more information in the links below: