You're eligible income-wise, but there are other requirements to consider.
According to Who is eligible in Massachusetts Senior Circuit Breaker Tax Credit:
- You must be a Massachusetts resident or part-year resident.
- You must be 65 or older by December 31 of the tax year.
- 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 2023, your total Massachusetts income doesn't exceed:
- $69,000 for a single individual who is not the head of a household.
- $86,000 for a head of household.
- $103,000 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, 2023, before residential exemptions but after abatements, cannot exceed $1,025,000.
- 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.
If you're eligible, the TurboTax program will compute the credit for you.
