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pfarr712
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How do i determine what i received for a star credit

 
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NicoleU
New Member

How do i determine what i received for a star credit

New York mailed out advance payment of the Property Tax Freeze, Property Tax Relief and STAR Credits to qualified taxpayers. The Property Tax Freeze Credit amount was based on the amount of increase in local property taxes on primary residence.

In TurboTax & within State return, in the first box, if you got a check related to the property tax freeze or property tax relief credits. (Do not include any Star Credit received here)

In the second box, if you got a check related to Star credit

Please see this NYS link for information: https://www.tax.ny.gov/pit/property/property-credits-combined.htm

You do not need to do anything on your 2016 federal and New York State income tax returns, unless you meet one of the following conditions.

  • You are a Yonkers resident
    Be sure to answer Yes to the question "Did you receive a property tax freeze or property tax relief credit?" and enter the total amount received in the space provided.. 
    This will reduce your Yonkers tax due appropriately.
  • You itemize your deductions 
    If you received any of the above credits in calendar year 2016, reduce your deduction for real estate taxes paid by the amount of all of the credits.
If you receive a property tax credit in 2017, keep the check stub with your 2017 tax records.

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2 Replies
NicoleU
New Member

How do i determine what i received for a star credit

New York mailed out advance payment of the Property Tax Freeze, Property Tax Relief and STAR Credits to qualified taxpayers. The Property Tax Freeze Credit amount was based on the amount of increase in local property taxes on primary residence.

In TurboTax & within State return, in the first box, if you got a check related to the property tax freeze or property tax relief credits. (Do not include any Star Credit received here)

In the second box, if you got a check related to Star credit

Please see this NYS link for information: https://www.tax.ny.gov/pit/property/property-credits-combined.htm

You do not need to do anything on your 2016 federal and New York State income tax returns, unless you meet one of the following conditions.

  • You are a Yonkers resident
    Be sure to answer Yes to the question "Did you receive a property tax freeze or property tax relief credit?" and enter the total amount received in the space provided.. 
    This will reduce your Yonkers tax due appropriately.
  • You itemize your deductions 
    If you received any of the above credits in calendar year 2016, reduce your deduction for real estate taxes paid by the amount of all of the credits.
If you receive a property tax credit in 2017, keep the check stub with your 2017 tax records.

How do i determine what i received for a star credit

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