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You will need to do this in the Missouri state section, under Miscellaneous Missouri Credits. You will need to select HDC in the menu and enter your amounts. Adding this form will make you have to file your return by mail and attach your Form 5926.
Homestead Disaster Tax Credit (HDC)
Thank you. More questions. What amount do I enter for this form as it has self/spouse. Do I just enter my deductible under one of those?
2. I know I will need to mail my state return with the forms, but can I e-file the federal tax form?
3. How does this affect my taxes if I am already getting a refund?
4. Do I need to mail my state taxes every year and include form 5926 with it?
Thank you so much. The answers to these questions are not easy to find.
Form 5926 is really an affidavit - you're swearing that the disaster that you claimed on your federal return really happened to you, you're giving the information about the insurance company that reimbursed you for the disaster and the amount of the deductible that you and your spouse together had to pay.
This form shouldn't change your taxes at all. You should have already entered the disaster information into your federal return and received any credit for it that you were entitled to. That should also carry over to the Missouri return and just require this form in order to make the state feel like they've done the right thing here by letting you take the credit.
You only need to mail your state return in the year that you are taking the disaster credit. That's the only year that you have to print and sign this additional form swearing that the disaster really happened to you.
Where would one enter this on the federal portion? I've only came across this on the state portion and now should receive a credit from the state.
To report a disaster in your Federal Return, go Income > IRA, 401K, Pension Plan Withdrawals. Say 'No' to receiving a 1099-R and 'Yes' to a prior year disaster. Continue through the follow-up questions to report your disaster, including your FEMA disaster number.
If you didn't receive a FEMA number for your disaster, you can report this under Deductions & Credits > Other Deductions & Credits > Casualties & Thefts.
Here's more info on Reporting a Casualty Loss.
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