Form MI-1040CR Homestead Property Tax Credit ( Veterans and Blind People)
Tax
Form MI-1040CR Homestead Property Tax Credit ( Veterans and Blind People).pdf |
INSTRUCTIONS: MICHIGAN HOMESTEAD PROPERTY TAX CREDIT CLAIM FOR VETERANS AND BLIND PEOPLE (Form MI-1040CR-2)
Michigan residents who are military veterans, their spouses, the surviving spouse of veterans who died while in service, or those who are blind may seek a property tax credit by filing a form MI-1040CR-2 with the state Department of Treasury. The form, along with the instructions necessary to complete it, is found on that agency's website.
Michigan Homestead Property Tax Credit Claim For Veterans And Blind People MI-1040CR-2 Step 1: Lines 1 through 4 ask for identifying information about you and, if filing jointly, your spouse.
Michigan Homestead Property Tax Credit Claim For Veterans And Blind People MI-1040CR-2 Step 2: Line 5 asks if you were a full-time resident of the state, a non-resident or a part-year resident. If the latter, give the starting and ending dates of your residency.
Michigan Homestead Property Tax Credit Claim For Veterans And Blind People MI-1040CR-2 Step 3: On line 6, indicate with a check mark which of the five listed categories of those who qualify for this tax credit applies to you.
Michigan Homestead Property Tax Credit Claim For Veterans And Blind People MI-1040CR-2 Step 4: Consult table 2 on page 10 of the instructions to determine your taxable value allowance. Enter this on line 7 and your homestead's taxable value on line 8. Enter the amount of property taxes levied on your home on line 9.
Michigan Homestead Property Tax Credit Claim For Veterans And Blind People MI-1040CR-2 Step 5: Divide line 7 by line 8 to determine the percent of tax relief on line 10. Multiply line 9 by line 10. Enter the result on line 11.
Michigan Homestead Property Tax Credit Claim For Veterans And Blind People MI-1040CR-2 Step 6: Lines 12 through 28 require you to detail all sources of income. Include the total for both spouses if filing jointly.
Michigan Homestead Property Tax Credit Claim For Veterans And Blind People MI-1040CR-2 Step 7: Subtract line 28 from line 25 to determine your household income on line 29. If greater than $82,650, you do not qualify for this tax credit. Otherwise, follow the instructions to determine your property tax credit on line 31.
Michigan Homestead Property Tax Credit Claim For Veterans And Blind People MI-1040CR-2 Step 8: Homeowners should complete Part 1 on the first page. Veteran renters should complete Part 2.