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I am asked to provide a property classification for my residential homesteaded property. But my property tax statement does not give me a code?

The drop down box doesn't provide a generic residential homestead option and my property tax statement doesn't give me a code.  How do I choose the correct code?
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MonikaK1
Expert Alumni

I am asked to provide a property classification for my residential homesteaded property. But my property tax statement does not give me a code?

Assuming you are referring to the Minnesota property classification for the MN property tax statement worksheet, Form M1PR instructions - Minnesota Department of Revenue shows property types as follows: homestead, non-homestead, commercial, and special homestead (blind or disabled).

 

When you go through the Minnesota entry screens in TurboTax, there is a dropdown box for property classification. The first selection is Residential Homestead; when you select this, then the box changes to code 1a automatically.

 

A class 1a residential homestead is a property owned by a Minnesota resident and is occupied by that person as their primary residence. See here for more information from the State of Minnesota on this topic.

 

Please see this thread for another discussion of this topic. 

 

A few other states have similar property tax classification systems.

 

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