NYC Enhanced Real Property Credit 2021

[sands396]

Why does Turbotax not allow eligible taxpayers to claim the NYC ENHANCED Real Property Tax Credit  -- this Enhanced credit is for renters with less than $200,000 income. Is this a glitch? Can Turbotax fix this?  Turbotax currently asks questions for only the (regular) Real Property Tax Credit  -- that credit is for income less than $18,000. 

[maglib]

@sands396 

The Enhanced Property Tax Credit expired in Dec 2019 and I believe was reportable utilizing TT then.

Current credit: https://www.tax.ny.gov/pit/credits/new_york_city_credits.htm  

Unless you are talking about the property tax rebate which if it was not automatically received you file for using https://www.nyc.gov/site/finance/taxes/property-tax-rebate.page#applications

The only real property tax credit is:

Who's eligible for the Real Property Tax Credit?

To be eligible for the Real Property Tax Credit, you must meet the following criteria according to the New York Department of Taxation and Finance:

• Your household gross income is $18,000 or less.
• You had the same New York residence for six months or more.
• You were a New York State resident for the entire year.
• You couldn't be claimed as a dependent on another taxpayer's federal income tax return.
• Your residence wasn't completely exempted from real property taxes.
• The current market value of all real property you owned, such as houses, garages, and land, was $85,000 or less.
• Additionally, you meet all the conditions listed under either Homeowners or Renters below.

Homeowners

• You or your spouse paid real property taxes.
• Any rent you received for nonresidential use of your residence was 20% or less of the total rent you received.

Renters

• You or a member of your household paid rent for your residence.
• The average monthly rent you and other members of your household paid was $450 or less, not counting charges for heat, tax, electricity, furnishings, or board.

I do not work for TT, hope this was helpful.

[sands396]

There now is an NYC Enhanced Real Property Credit for 2022. 

Turbotax addresses this Enhanced Credit as expiring in 2019 (which it did) but Turbotax does not update for this new information -- the NYC Enhanced Real Property Credit for 2022 for taxpayers with income less than $200,000. Turbotax currently only uses the (regular) Real Property Tax Credit that has, as you said, an $18,000 income limit and $450 rent limit. 

[LindaS5247]

What is the New York Enhanced Real Property tax credit?  How much is the credit?  

The amount of the credit is the product of the amount of real property tax which exceeds 6% of the taxpayer's qualified gross income (QGI), and a specified rate based on the taxpayer's QGI. To claim the credit, the computed amount must exceed $250. The maximum credit allowed is $350.

To enter this credit on your New York State Tax Return look for this under New York Credits and Taxes:

Then enter your information (as it applies to you):

Continue through the questions:

Continue to answer all questions:

If you are eligible, your credit it will show like this: