You will need to answer all four statements before you apply for the elderly homeowner/renter credit. Any “No” answer means you are not eligible for the credit. If you are able to answer “Yes” to all of these statements, you are eligible for this refundable credit of up to $1,000. Even though you may be eligible for the credit, after completing Parts II and III of this form, it may be that you are not entitled to receive any credit. Please note that only one claim is allowed per household and that married taxpayers who are living apart may qualify for only one credit per year.