Form Mo-1040p - Missouri Individual Income Tax Return And Property Tax Credit Claim/pension Exemption - 2014 Page 3

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PROPERTY TAX CREDIT FILERS
What’s Inside?
PLEASE NOTE!
Electronic Filing Options
2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Do I Have the Correct Tax Book?
3
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
• The maximum income level for residents who
Am I Eligible?
4
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
own and occupy their home for the entire
Important Filing Information
4-5
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
year is $30,000 (after any exemptions).
Information to Complete Form MO-1040P
5-9
. . . . . . . . . . . . . . . .
• The maximum income level for residents
Diagram of Form W-2
14
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
who rented or owned their home a portion of
Form MO-1040P
15-22
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the year is $27,500 (after any exemptions).
Pension Exemption Worksheet
17, 21
. . . . . . . . . . . . . . . . . . . . . . . . .
• The exemption for married filing combined
Missouri Itemized Deductions
6, 7, 11, 18, 22
. . . . . . . . . . . . . . . .
is $4,000 if you own and occupy your home
Tax Chart
18, 22
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the entire year. If you rent the exemption is
Form MO-PTS
23, 25
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$2,000.
Form MO-CRP
24, 26
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
• The maximum credit for residents who own
Information to Complete Form MO-PTS
12-14
. . . . . . . . . . . . . . . .
and occupy their home is $1,100. If you rent
Information to Complete Form MO-CRP
14
. . . . . . . . . . . . . . . . . . . .
the maximum credit is $750.
Consumer’s Use Tax
27
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
• If you rent from a facility that does not pay
Final Checklist Before Mailing Your Claim
28
. . . . . . . . . . . . . . . . .
property taxes, you are not eligible for a
Form 1040V
28
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Property Tax Credit.
Property Tax Credit Chart
29-31
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Failure to include required documentation or information may
reduce or delay your refund.
Do I Have the
c. Exempt contributions made to
b. Credit made with the filing of a
Correct Tax Book?
or earnings from the Missouri
Form MO-60, Application for
Savings for Tuition Program
Extension of Time to File;
(MOST),
Missouri
Higher
c. A deduction for other federal tax
You MAY USE this tax book to file
Education Deposit Program, or
(from Federal Form 1040, Lines
your 2014 Missouri individual income
other qualified 529 Plans;
45, 46, 48, 59, 60b, and any
tax return to claim the property tax
d. Interest from federal exempt
recapture taxes included on
credit and pension exemption.
qualified obligations;
Line 63, minus Line 69);
You CANNOT USE this tax book if
e. Interest from state and local
d. A deduction for dependents
you:
obligations;
age 65 or older; or
• Have income from another state;
f. Capital gain exclusion;
e. A healthcare sharing ministry
• Are filing an amended return;
deduction
or
new
jobs
g. Railroad retirement modifications;
• Have military pay that is not
deduction.
h. Negative bonus depreciation
taxable;
• Owe a penalty for underpayment
adjustments;
• Have a net operating loss;
of estimated tax;
i. Enterprise Zone or Rural Empow-
• Are a fiscal year filer;
• Owe
tax
on
a
lump
sum
erment Zone Modification;
• Have any of the following
distribution included on your
Missouri modifications:
j. Are a nonresident alien;
Federal Form 1040, Line 44; or
a. Positive or negative adjustments
k. Are a nonresident stationed in
• Owe recapture tax on low income
from partnerships, fiduciaries, S
Missouri and you or your
housing credit.
corporations, or other sources;
spouse earned nonmilitary
Note:
Use Form MO-PTC if you
income while in Missouri; or
b. Nonqualified
distribution
are not required to file an individual
received from the Missouri
l. Qualified Health Insurance
income tax return, but you are eligible
Savings for Tuition Program
Premiums.
to file for a Property Tax Credit.
(MOST),
Missouri
Higher
• Claim:
Education Deposit Program, or
a. Miscellaneous tax credits (Form
other qualified 529 plans;
MO-TC);
3

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