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Idaho Credits

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Idaho Credits

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CREDIT FOR INCOME TAX PAID TO OTHER STATES-When Idaho and another state tax the same income, you may qualify for a credit for tax paid to the other state. Use this section to compute the credit. Include a complete copy of the other state’s income tax return and Idaho Form 39R with your income tax return. If your S corporation or partnership paid income tax to another state on your behalf, include a copy of Form ID K-1 or the schedule you received from the S corporation or partnership that paid the tax. If credit applies to more than one state, use a separate Form 39R for each state.

 

Examples of income that both Idaho and another state may tax include:

 

 Wages earned in another state that has an income tax, such as Oregon or Utah, while living in Idaho

 

 Income from a business or profession earned in another state that has an income tax, while a resident of Idaho.

 

CREDITS FOR IDAHO EDUCATIONAL ENTITY, IDAHO YOUTH AND REHABILITATION FACILITY CONTRIBUTIONS, AND LIVE ORGAN DONATION EXPENSES

 

CREDIT FOR IDAHO EDUCATIONAL ENTITY CONTRIBUTIONS-If you donated cash to qualified educational entities, you can claim a tax credit. Donation of goods or services don't qualify.

 

The credit is limited to the smallest of:

 

 One-half of the amount donated        50% of the tax on Form 40, line 21

 

 $500 ($1,000 on a joint return)    The tax on Form 40, line 21 less the amount on Form 40, line 22

 

When determining the amount of credit, you should include amounts from Form ID K-1, Part VIII, line 55 in your calculations.

 

CREDIT FOR IDAHO YOUTH AND REHABILITATION FACILITY CONTRIBUTIONS-You can claim this credit if you donated cash or goods to the following:

 

• Qualified center for independent living

 

• Youth or rehabilitation facility or its foundation or

 

• Nonprofit substance abuse center licensed by the Idaho Department of Health and Welfare

 

The credit is limited to the smallest of:

 

 One-half of the amount donated      20% of the tax on Form 40, line 21

 

 $100 ($200 on a joint return)    The tax on Form 40, line 21 less the amounts on Form 40, line 22 and Form 39R, Part E, line 1

 

When determining the amount of credit, include amounts from Form ID K-1, Part VIII, line 56 in your calculations.

 

MAINTAINING A HOME FOR A FAMILY MEMBER AGE 65 OR OLDER OR A FAMILY MEMBER WITH A DEVELOPMENTAL DISABILITY-If you didn't claim the $1,000 deduction on Part B, line 15, you can claim a $100 credit for each family member, not including yourself or your spouse who:

 

• Is age 65 or older

 

• You maintain a household for and

 

• You provide more than one-half of the family member's support for the year

 

If the home was maintained for the family member less than a full year, the credit is allowed at the rate of $8.33 for each month the home was maintained.

 

You can claim this credit if your gross income is less than the filing requirement. File Form 40 and include Form 39R.

 

Only residents, including Idaho residents on active military duty outside Idaho, can claim this credit.

 

 

 

 

 


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Article Details
Views: 1019 Created on: Jun 15, 2013
Date updated: Jan 02, 2019
Posted in: States, Idaho

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