Form Mi-1040cr-5 - Michigan Farmland Preservation Tax Credit Claim - 2014

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Michigan Department of Treasury (Rev. 05-14), Page 1 of 2
2014 MICHIGAN Farmland Preservation Tax Credit Claim MI-1040CR-5
Issued under authority of Public Act 281 of 1967, as amended.
1 4
0123456789
Attach to Form MI-1040. Type or print in blue or black ink. Print numbers like this:
- NOT like this:
Attachment 03
1. Filer’s First Name
M.I.
Last Name
2. Filer’s Full Social Security No. (Example: 123-45-6789)
If a Joint Return, Spouse’s First Name
M.I.
Last Name
3. Spouse’s Full Social Security No. (Example: 123-45-6789)
PART 1: COMPUTATION OF CREDIT —
Complete a Schedule CR-5 before completing Part 1.
4. Total taxes for all agreements from Schedule CR-5, line 3, column F................................................
4.
00
Check this box if all of your taxes that qualify for a Homestead Property Tax Credit
5.
are included in line 4.
6. If you did not check the box on line 5, enter the taxes on your home and farmland that qualify for a
property tax credit but are not under a Farmland Developmental Rights Agreement ........................
6.
00
7. Total. Add lines 4 and 6 .....................................................................................................................
7.
00
8. Total Household Resources from MI-1040CR, line 33,
MI-1040CR-2, line 32 or MI-1040CR-7, line 34 .................................
8.
00
9. Total Loss Adjustment from line 26, page 2
(must be less than zero) ....................................................................
9.
00
10. Total Household Income, combine lines 8 and 9 ............................... 10.
00
11. Depletion allowance claimed on your federal return.......................... 11.
00
12. Total. Add lines 10 and 11 ................................................................. 12.
00
13. Total taxes on land covered by Farmland Developmental Rights
Agreement from line 4 ....................................................................... 13.
00
14. Multiply line 12 by 3.5% (0.035). If negative, enter “0” ...................... 14.
00
15. Subtract line 14 from line 13 .............................................................. 15.
00
16. Homestead Property Tax Credit from MI-1040CR, line 44 or
MI-1040CR-2, line 33. ......................................................................
16.
00
17. Total Property Tax Credits. Add lines 15 and 16 ............................................................................ 17.
00
IF LINE 17 IS LESS THAN LINE 7, CARRY THE AMOUNT FROM LINE 15 TO YOUR MI-1040, LINE 26, AND STOP HERE.
18. If line 17 is greater than 7, enter the amount from line 7 .................................................................... 18.
00
19. Enter the amount from line 16 ............................................................................................................ 19.
00
20. Subtract line 19 from line 18. Enter here and on Form MI-1040, line 26 ............................................ 20.
00
Continued on Page 2.
+
0000 2014 17 01 27 6

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