Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Still need to file? Our experts can get your taxes done right. Get started >
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
heather-brock4
New Member

I purchased my first home in 2019 and moved in April. How do you account for that on the MI-1040CR? Turbotax insists I put in a sold property amount to prorate.

 
1 Best answer

Accepted Solutions
KathrynG3
Expert Alumni

I purchased my first home in 2019 and moved in April. How do you account for that on the MI-1040CR? Turbotax insists I put in a sold property amount to prorate.

It depends on what was entered. First, determine that you qualify for the credit.

There are three hurdles to pass to claim the credit:

1. Taxable value is equal or less than $135,000

2. Total Household Resources are less than $60,000

3. The property tax levied is greater than 3.2% of the Total Household Resources.

 

Next, leave the Old Home side completely blank and only enter the number of days in your new home. I was able to advance through the screens this way, and was not asked about the Old Property Tax.

 

 

For more details:

2019 MI-1040CR

2019 MI-1040CR Instructions

 

@heather-brock4

View solution in original post

3 Replies
KathrynG3
Expert Alumni

I purchased my first home in 2019 and moved in April. How do you account for that on the MI-1040CR? Turbotax insists I put in a sold property amount to prorate.

It depends on what was entered. First, determine that you qualify for the credit.

There are three hurdles to pass to claim the credit:

1. Taxable value is equal or less than $135,000

2. Total Household Resources are less than $60,000

3. The property tax levied is greater than 3.2% of the Total Household Resources.

 

Next, leave the Old Home side completely blank and only enter the number of days in your new home. I was able to advance through the screens this way, and was not asked about the Old Property Tax.

 

 

For more details:

2019 MI-1040CR

2019 MI-1040CR Instructions

 

@heather-brock4

heather-brock4
New Member

I purchased my first home in 2019 and moved in April. How do you account for that on the MI-1040CR? Turbotax insists I put in a sold property amount to prorate.

Kathryn,

 

Thank you, yes I qualified based on the hurdles you mentioned. I deleted the form, and went back in and redid it, this time leaving the Old House info blank and it worked! Thank you so much. 

KathrynG3
Expert Alumni

I purchased my first home in 2019 and moved in April. How do you account for that on the MI-1040CR? Turbotax insists I put in a sold property amount to prorate.

Wonderful news! You're welcome!

@heather-brock4

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~