Instructions For Form Mo-1040p - Property Tax Credit/ Pension Exemption Short Form - 2012 Page 3
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32PROPERTY 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
Am I Eligible?
4
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
who own and occupy their home for the
Important Filing Information
4-5
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
entire year is $30,000 (after any
Refund Debit Card
8, 32
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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
Form MO-1040P
15, 16, 19, 20
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
portion of the year is $27,500 (after any
Pension Exemption Worksheet
17, 21
. . . . . . . . . . . . . . . . . . . . . . . . .
exemptions).
Missouri Itemized Deductions
6, 7, 11, 18, 22
. . . . . . . . . . . . . . . .
• The exemption for married filing combined
Tax Table
18, 22
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
is $4,000 if you own and occupy your
Form MO-PTS
23, 25
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
home the entire year. If you rent the
Form MO-CRP
24, 26
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
exemption is $2,000.
Information to Complete Form MO-PTS
11-14
. . . . . . . . . . . . . . . .
• The maximum credit for residents who
Information to Complete Form MO-CRP
14
. . . . . . . . . . . . . . . . . . . .
own and occupy their home is $1,100.
Consumer’s Use Tax
27
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If you rent the maximum credit is $750.
Final Checklist Before Mailing Your Claim
28
. . . . . . . . . . . . . . . . .
• If you rent from a facility that does not
Form 1040V
28
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
pay property taxes, you are not eligible
Property Tax Credit Table
29-31
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
for a Property Tax Credit.
Tax Assistance Centers
32
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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
or earnings from the Missouri
Form MO-60, Application for
Correct Tax Book?
Savings for Tuition Program
Extension of Time to File;
(MOST), Missouri Higher
c. A deduction for other federal
You MAY USE this tax book to file
Education Deposit Program, or
tax (from Federal Form 1040,
your 2012 Missouri individual income
other qualified 529 Plans;
Lines 45, 47, 58, 59b, 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 61);
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 deduc-
g. Railroad retirement modifications;
• Have military pay that is not
tion.
h. Negative bonus depreciation
taxable;
• Owe a penalty for underpayment
adjustments;
• Have a net operating loss;
of estimated tax;
i. Enterprise Zone or Rural Em-
• Are a fiscal year filer;
• Owe tax on a lump sum distribution
powerment Zone Modification;
• Have any of the following
included on your Federal Form
Missouri modifications:
j. Are a nonresident alien;
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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