How do you enter rent paid used in figuring out Wisconsin Renter's School Tax Credit?

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How do you enter rent paid used in figuring out Wisconsin Renter's School Tax Credit?
Article ID: 33596

Question

How do you enter rent paid used in figuring out Wisconsin Renter's School Tax Credit?

Answer

Step 1 - Rent Paid

Fill in the total rent that you paid for living quarters (1) where the heat was included in the rent, and (2) where the heat was not included in the rent. These living quarters must have been used as your principal home. Do not include rent paid for housing that is exempt from property taxes (for example, rent for a university dormitory, nonprofit senior housing, or public housing). (Property owned by a public housing authority is considered tax-exempt unless that authority makes payments in place of property taxes to the city or town in which it is located. If you live in public housing, you may wish to ask your manager about this.)

If your rent included food, housekeeping, medical, or other services, reduce your rent by the value of these items. If you shared living quarters with one or more persons (other than your spouse or dependents), fill in only the portion of the rent that you paid.

For example, if you and two other persons rented an apartment and paid a total rent of $3,000, and you each paid $1,000 of the rent, each could claim a credit based on $1,000 of rent.

Step 2

Refer to the RenterÆ' School Property Tax Credit Table to figure your credit. If heat was included in your rent, use Column 1 of the table. If heat was not included in your rent, use Column 2.

Our Program will guide you step by step thru entering the information for the credit, once you select it. We then calculate the amount for you based on your input.

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Article Details

Views: 1083	Created on: Jun 15, 2013 Date updated: Aug 26, 2015
Posted in: STATES, Wisconsin

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