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    • Complete Part 3 (lines 45-51)

      • Complete Part 3 (lines 45-51) of the MI-1040CR to determine the taxes that can be claimed. Use only taxes levied in the year of the claim, then prorate taxes based on days you owned and occupied the home as your principal residence. Do not include the taxes listed on your settlement statement. You may not claim more than 365 days total.
  1. Verify the correct taxable value of your homestead was reported if you bought and/or sold your home. (Line 9) Taxable Value: This can be found on your property tax statements sent to you by your county, city, township or village office. Do not use the State Equalized Value (SEV) or Assessed Value.

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  3. Dec 20, 2019 · Claim your credit on the MI-1040CR and • Government payments made directly to a third party (e.g., check box 5b if you are age 65 or younger. Check boxes 5a payments to a doctor, GI Bill benefits, payments from a and 5b if you are blind and age 65 or older. PELL grant).

  4. The computed credit is reduced by 10 percent a property tax credit if all of the following apply: for every $1,000 (or part of $1,000) that total household resources exceed $51,000. If filing a part-year return, you. Your homestead is located in Michigan must annualize total household resources to determine if the.

  5. How do you generate the Michigan property tax credit on Form MI-1040CR? You can generate the MI-1040CR by: Go to Input Return ⮕ Deductions ⮕ Itemized Deductions (Sch A) Select Taxes to jump to that section. Scroll down to the Real Estate Taxes subsection. Enter the amount of taxes paid in Principal residence [Adjust]. On the left-side menu ...

  6. HOW DO FILERS CLAIM THE CREDIT? Applicants must use Form MI-1040CR. An applicant should com-plete both Form MI-1040CR and Form MI-1040CR-2, and return whichever form gives a larger credit, if the applicant is any of the following: Blind and owns a homestead; Active in the military; An eligible veteran or surviving spouse.

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  7. Claim your credit on the MI-1040CR and check box 5b if you are age 65 or younger. Check boxes 5a and 5b if you are blind and age 65 or older. When to File. If you are not required to file an MI-1040, you may file your credit claim as soon as you know your 2014 total household resources and property taxes levied in 2014.

  8. TaxSlayer Pro Desktop and ProWeb both support Form MI-1040CR-7, Michigan Home Heating Credit Claim. From the Michigan return main menu: Desktop: Select Miscellaneous Forms ; ProWeb: Select Credits; Mail the claim to: Michigan Department of Treasury Lansing, MI 48956

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