TurboTax MO-5674 PTC - property tax credit instructions for Missouri state, eligible taxpayer: Follow the TurboTax interview series of questions for the property tax credit. Enter all of your income in your “My Info” section. This includes your Social Security Number, Birth Date and, if retired due to disability, enter “retired 100% disability” or whatever your actual federal status is according to your tax forms. In the Federal section, if your only income is an SSA-1099, you should continue with the interview series of question until you reach the question, “Yes, let’s work on social security benefits, or you can go to the search box and type in “SSA-1099” and then click on the “jump to” link to enter the income that you received. Make sure all of the boxes entered in your document match what is entered into your TurboTax software (numbers and boxes checked)! Total Net Benefits (Box 5, below) is Box 3 less Box 4 on your SSA-1099 form. When you see “Learn More” in TurboTax, click on the letters for further details! Continue to answer the TurboTax interview series of questions, until you “Wrap Up Income” and complete your Federal Return. Once you complete the TurboTax interview series of questions (you entered your Missouri address in the “My Info” section, before Federal and State) where you lived for the full year, you will be automatically led to your state return. Your 2019 Missouri Return > Did you file a Missouri State Return? Yes – verify your address before property tax credit screen – Answer “Yes” if you are eligible No – this is the next screen – Answer “Yes” if you are eligible – see screen queries, below: Continue to Property Tax Credit Options, screen, and select whether you are filing a state tax return or just claiming the property tax credit. See below, for the MO state browser to identify whether you are required to file a state return in order to obtain the credit. Here is an excerpt, of the Missouri state frequently asked questions. Continue to answer the questions, based on your circumstance, on each of the following TurboTax screens, and based on your eligibility, TurboTax will generate the relevant forms for you to file /e-file: Property Tax Credit Additional Information Needed Household Income Rental Certification Summary Rental Address Type of Rental Property Rental Information (this should match your Form 5674, signed by your landlord) Landlord Information (this should match your Form 5674, signed by your landlord) Related to Landlord Another Rental If you elected not to file a Missouri state return, your credit will not show up in the MO REFUND at the top of the page, as you are not filing a state return. You will print and mail the PTC form. If you elected to file a Missouri state return, you will go through a few more screens before you get to the screens, below: Do you have any of these items, Taxed by Missouri (i.e. NOL, K-1, business deductions, other MO additions)? Paid for Long-Term Care Insurance? Did you Donate to a Health Care Sharing Facility? Bring Jobs Home? Transportation Facilities Deduction? First Time HomeBuyer Savings Account? Do you have any of these items, Not Taxed by Missouri (see list)? Savings for Tuition Programs Qualified ABLE? Agriculture Disaster Relief? Taxes Paid to Another State? You can elect to have your credit direct-deposited into your account, or you can print and mail the form to have a check mailed to you.
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IF you ONLY have an SSA-1099 form and are not required to file a federal return, you may not have to file a federal and state return in order to file for the Missouri Property Tax Credit. See below. This is a question received for Missouri state residents; see state link for details and filing forms. https://dor.mo.gov/personal/ptc/documents/proptax.pdf The Missouri Property Tax Credit Claim is a program that allows certain senior citizens and 100 percent disabled individuals to apply for a credit based on the real estate taxes or rent they have paid for the year. The credit is for a maximum of $750.00 for renters and $1,100.00 for owners. The actual credit is based on amount paid and total household income, taxable and nontaxable. Detailed instructions, forms, and charts can be found at: http://dor.mo.gov/forms. If you need to file an income tax return, Form MO-1040 or Form MO-1040P, you must use Form MO-PTS to claim a property tax credit and attach it to the Form MO-1040 or Form MO-1040P. Do not use Form MO-PTC if you are required to file an income tax return. MO state credit requirement(s): Single status renters with income under $27,500 (married filing jointly $29,500). Single status owner-occupied home with income under $30,000 (married filing jointly $34,000). Property tax paid by owner of rental location or owner-occupied home; no illegal aliens employed AND BOX A - Age 65 or older, at December 31, 2019 and a Missouri State resident the entire calendar year OR BOX B - 100% disabled as a result of military service OR BOX C - 100% disabled OR BOX D - Age 60 or older at December 31, 2019 and receiving surviving spouse social security benefits.
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