Missouri - Miscellaneous Tax Credits is incorrect

[oto]

I just input $30,684 of Historic Preservation Tax Credits (HPC) for my Missouri state return and when turbotax completed the draft state return, the final tax credit amount reflected in "Miscellaneous Tax Credits" was only $28,998. The "Net Tax" amount in the total was $39,168, so it is unclear to me why the full credit amount is not being reflected on hte state reutrn. 

[AmyC]

The program should be optimizing your historic credit with other credits and your tax liability. Check a few things:

• The historic credit is nonrefundable - the most it can do is wipe out your tax liability, it will not give you a refund. 
• Federal income tax is also deducted from your income to lower your tax liability.
• Look to see if your liability was eliminated. Mo-1040 tax liability line 30

The credit can carryforward 10 years.

[oto]

Thank you!

Is there a way to look at my MO-1040? I attempted to do so using Tax Tools (Tools and Print Center) but neither allowed me to see the draft state 1040. Turbotax online may allow me to see the form once I pay for the return, but I don't want to do that until I can understand what is happening with the credit amount. 

And thanks for the confirmation that the credit is non-refundable. My total liability is 39,265, so it can absorb the full credit amount and then I would be due a refund from withholding. 

[AmyC]

You can see a preview -designed so people can't print and file without paying. You may be able to see enough to solve your issue. Follow these steps:

1. Open your state return
2. visit Tax Tools from the menu 
3. Select Tools. 
4. In the pop up, select View tax summary to open your state form. 

You may need to pay for your return to see all of the forms you need. Being able to see the problem is key to winning the battle. The Historic Preservation Tax Credit Program Program Guidelines which includes more information.

MO 1040 Instructions and MO-TC for 2025.