Nebraska has a new Tax Credit the "Nebraska Income Tax Credit for School District Taxes Paid." Why doesn't the individual form (PTC 2020) appear in Turbo Tax?

[jeff-harders]

Nebraska has a new Tax Credit the "Nebraska Income Tax Credit for School District Taxes Paid." The form for this does show up in Turbo Tax for Businesses but not for individuals. According to the Ne State Dept of Revenue individuals qualify for this tax credit. Why doesn't the individual form appear in Turbo Tax?

[ErnieS0]

Form PTC Property Tax Incentive Act Credit Computation is available in TurboTax.

• In the Nebraska section, find the screen Any Nebraska Credits? Continue.
• Select Property Owned by an Individual Tax Credit.
• Fill in your parcel information in Report Property Tax Information. TurboTax will generate Form PTC.

[kendrakoehler]

Can I claim the Nebraska Income Tax Credit for school district taxes paid on my FEDERAL taxes?

[RaifH]

No, this Nebraska credit can only be claimed on a Nebraska income tax return. It is a fully refundable credit, meaning even if you owe no tax to Nebraska you may still claim the credit. The credit is for 25.3% of the amount of school district property taxes you paid.

@kendrakoehler 

[Huskertaxes1]

This question should automatically be generated by TurboTax based on previous entries relative to property taxes. Because it's a (relatively) new credit, most taxpayers won't (don't) know they're eligible. I've had to file an amended form. I wonder how many other Nebraska filers are missing out on this because TurboTax says it's found all credits, when it hasn't.