Instructions For Form Mo-1040p - Property Tax Credit/ Pension Exemption Short Form - 2012 Page 14
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32percent. If two or more unmarried
Information to
Helpful Hint
individuals over 18 years of age share
Your property tax credit is figured by
Complete
residence and each pay part of the
comparing your total income received
rent, enter the total rent on Form
Form MO-CRP
to 20 percent of your net rent paid
MO-CRP, Line 6 and mark the appro-
or real estate tax paid. To make the com-
priate percentage on box G of Line 7.
parison and determine your credit, use
If you rent from a tax exempt
the rent receipt is for the total rent
the 2012 Property Tax Credit Chart on
facility, you do not qualify.
amount, then the percentage on box
pages 29 through 31. Lines are provided
on the chart to help you figure this amount.
G of the Form MO-CRP must be used
s
1
Example: Ruth paid $1,200 in real estate
tEP
to determine your credit.
tax and her total household income
Enter all information requested on
s
4
tEP
was $15,000. Ruth will apply her tax
Lines 1–5. If rent is paid to a relative,
paid and her total household income
Multiply Line 6 by the percentage on
the relationship to the landlord must
to the chart to figure out her credit amount.
Line 7. Enter this amount on Form
be indicated on Line 1. Your claim
Even though Ruth paid $1,200 in real
MO-CRP, Line 8.
may be delayed if you fail to enter all
estate tax, she is only allowed to take a
credit of $1,100. Ruth will use $1,100
required information.
s
5
tEP
as tax paid and her total household
s
2
income of $15,000 to make the com-
tEP
Multiply Line 8 by 20 percent and
parison. When using the chart, Ruth
enter the result on Line 9. Add the
Enter on Line 6 the gross rent paid.
finds where $15,000 and $1,100 “meet”
totals from Line 9 on all completed
Exclude rent paid for any portion of
to figure her credit. The two numbers
Forms MO-CRP and enter the amount
your home used in the production
“meet” on the chart where the credit
on Line 12 of MO-PTS.
of income, and the rent paid for
amount is $1,059. Ruth will get a $1,059
surrounding land with attachments
credit for the real estate tax she paid.
Helpful Hints
not necessary nor maintained for
• An apartment is a room or suite of
homestead purposes. Also, exclude
If you have the same address as your
rooms with separate facilities for
any rent paid to your landlord on
landlord, please verify the number of
cooking and other normal household
your behalf by any organization or
functions.
occupants and living units.
agency.
• A boarding home is a house that
l
13 — t
R
InE
otAl
EAl
provides meals, lodging, and the
s
3
tEP
E
t
/R
P
residents share common facilities.
stAtE
Ax
Ent
AId
If you were a resident of a nursing
Add amounts from Form MO-PTS,
home or boarding home during 2012,
Lines 11 and 12 and enter amount on
use the applicable percentage on Line
Line 13, or $1,100, whichever is less.
7. If you live in a hotel and meals
Example: Ester owns her home for
are included in your rent payment,
three months and pays $100 in property
enter 50 percent; otherwise enter 100
taxes. For nine months she rents an
apartment and pays $4,000 in rent.
The amount on Line 9 of the MO-CRP
is $800 ($4,000 x 20%). Form MO-PTS,
Diagram 1: Form W-2
Line 11, is $100; Line 12 is $750; and
Line 13 is $850. The $800 for rent is
limited on Line 12 to $750.
l
14 — P
InE
RoPERty
t
C
Ax
REdIt
Apply Lines 10 and 13 to the Prop-
erty Tax Credit Chart on pages 29-31
to determine the amount of your prop er ty
tax credit and enter amount on Line 14.
If you have another income tax or
property tax credit liability, this prop-
Earnings Tax
Missouri Taxes Withheld
erty tax credit may be applied to that
liability in accordance with Section
143.782, RSMo. You will be notified
if your credit is offset against any debts.
2012
14
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