Form Mo-1040p - Missouri Individual Income Tax Return And Property Tax Credit Claim/pension Exemption - 2014 Page 13

10 — n

as real property, a Form 948 is not

InE

ousEhold

Helpful Hints

needed. In such cases, you can claim

nComE

• Supplemental security income (SSI)

property tax for the mobile home and

Subtract Line 9 from Line 8 and enter

is paid by the Social Security

if applicable rent for the lot.

Ad min is tration. You have to request

amount on Line 10. If you RENTED or

an SSI form indicating total benefits

did not own and occupy your home

Helpful Hint

received either through a my Social

for the ENTIRE YEAR, the amount

Real estate tax paid for a prior year

Security account at

you enter on Line 10 cannot exceed

cannot be claimed on this form. To

.gov/myaccount, by calling 1-800-

$27,500. If the amount of your net

claim real estate taxes for a prior year,

772-1213, or contacting your local

household income on Line 10 is above

you must file a claim for that year.

Social Security office. If you have

If you own your home and other adults

$27,500, you are not eligible for the

minor children who receive SSI

(other than spouse) live there and pay

credit. There is no need to complete

benefits, the children do not qualify

rent, the rent must be included in your

and submit the Form MO-PTS.

for a credit. However, if you qualify

federal adjusted gross income.

for a credit, you must include the

If you OWNED AND OCCUPIED

children’s SSI benefits on Line 6.

your home for the ENTIRE YEAR, the

A credit will not be allowed on vehicles

• If you receive temporary assistance

amount you enter on Line 10 cannot

and other items listed on the personal

from the Children’s Division (CD) or

exceed $30,000. If the amount of your

property tax receipt.

the Family Support Division (FSD),

net household income on Line 10 is

you must include all cash benefits

If you submit more than one receipt

above $30,000, you are not eligible

received for your entire household.

from a city or county for your residence,

for the credit. There is no need to com-

The Department of Revenue verifies

please submit a letter of explanation.

plete and submit Form MO-PTS.

this information and failure to include

If you share a home, report only the

total benefits may delay your refund.

Note: Your home or dwelling is the

portion of real estate tax that was

place in which you reside in Missouri,

actually paid by you.

Attach a copy of Forms SSA-1099, a

whether owned or rented, and the

If you sold or purchased your home

letter from Social Security Ad min-

surrounding land, not to exceed five

during the year, attach a copy of the

istration, a letter from Social Services

acres, as is reasonably necessary for

seller’s or buyer’s agreement to your

that includes the total amount of

use of the dwelling as a home. A

claim.

assistance received and Employment

home may be part of a larger unit such

If you use your home for business

Security 1099, if applicable.

as a farm or building partly rented or

purposes, the percentage of your home

7 —

used for business.

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that is used for business purposes, must

(

)

11 — o

onbusInEss

oss

InE

ouR

omE

be subtracted from your real estate

taxes paid. If you need to use a Form

Complete Line 7 only if nonbusiness

If you owned and occupied your

948 to calculate the amount of real

losses reduced the amount reported

home, include the amount of real

estate tax, you must subtract the per-

on Form MO-PTS, Line 1. If Line 1 was

estate tax you paid for 2014 only, or

centage of your home that is used for

re duced by nonbusiness losses, add

$1,100, whichever is less. Do not

business purposes from the allowable

back the amount of the loss on Line 7.

include special assessments (sewer

real estate taxes paid calculated on the

A nonbusiness loss is a loss of income

lateral), penalties, service charges,

Form 948. Example: Ruth has 10 acres

and interest listed on your tax

that did not result from a trade or busi-

surrounding her house. She needs to

receipt. You can only claim the taxes

ness. (Losses from Federal Form 1040,

use a Form 948, because she is only

on your pri mary residence that you

Schedule F and Schedule C, are consid-

entitled to receive credit for 5 acres.

occupy. Secondary homes are not

ered bus i ness losses and should not be

By her calculations, she enters $500

eligible for the credit.

included here).

on Form 948, Line 6. Ruth also used

Attach a copy of paid real estate

9 — F

15 percent of her house for her busi-

InE

IlIng

EduCtIon

tax receipt(s) from the county and

ness. She will multiply $500 by 85

If you are Single or Married Living

city collectors office. Mortgage and

percent and put this figure ($425) on

Separate, enter $0 on Line 9.

financial institution statements are

Form MO-PTS, Line 11.

not acceptable.

If you are Married and Filing

12 — R

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Ent

ouR

omE

Combined, see below to determine

If your home or farm has more

Complete one Form MO-CRP, Certifi-

the amount to enter on Line 9.

than five acres or you own a mobile

cation of Rent Paid, for each rented

home and it is classified as personal

• If you RENTED or did not own your

home (including mobile home or lot)

property, a Form 948 Assessor’s

home for the ENTIRE YEAR, enter

you occupied during 2014. The Form

Certification must be attached with

$2,000 on Line 9.

MO-CRP is on the back of the Form

a copy of your paid personal or real

• If you OWNED or OCCUPIED your

MO-PTS and instructions are on page 14.

property tax receipt.

home for the ENTIRE YEAR, enter

If you rent from a facility that does

Your county assessor will complete

$4,000 on Line 9.

not pay property taxes, you are not

this form on your request. If you own

eligible for a Property Tax Credit.

a mobile home and it is classified

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