Things to know
As being a citizen that is senior maybe you are entitled to claim a refundable credit on the individual state tax return. The Circuit Breaker income tax credit will be based upon the particular estate that is real compensated in the Massachusetts domestic property you have or lease and occupy as the major residence.
The maximum credit quantity for income tax 12 months 2019 is $1,130. In the event that credit you are owed surpasses the quantity of the tax that is total for the entire year, you’re going to be refunded the extra number of the credit without interest.
That is qualified
- You should be a Massachusetts resident or part-year resident.
- You really must be 65 or older by 1, 2020 january.
- You have to register a Massachusetts income tax return that is personal.
- You have to acquire or hire property that is residential Massachusetts and occupy it as the main residence.