Wisconsin Rent Certificate

[TheGoodnShawn]

To all my buddies that are gurus in the state of Wisconsin. I have been asked about the Wisconsin Rent Certificate Credit to be claimed on their taxes. This is a credit Wisconsin residents get for paying rent....(Not Mortgage)

I am on the State of Wisconsin's web, checking for confirmation, but I wanted to see if anyone knows of this first hand

Thanks


Shawn Miller
Atlanta, GA

[RJM]

Look for Schedule H links

Yep, lower income earners get a credit (refundable I think) for rent paid. You need from the taxpayer the amounts paid, and whether or not heat was included in the rent. -Bob

[TheGoodnShawn]

Thanks Bob

I appreciate that


Shawn

[Jesse]

To possibly save you some time - the homestead credit is only available if HOUSEHOLD income is less than $24,500. For homestead household income includes nontaxable sources such as Work Comp, Child support, Social Security, etc........

[Bill Tubbs]

Homestead Credit

Only available when household income is below $24,500
1) there is a $250/dependent subtraction, so a family of 6 could actually get a small amount of credit if their income is $25,000 -- $25,000 - $250*4 = $24000
2) non-taxable income, such as Social Security IS INCLUDED in "household income"

It is available for people that are full-year residents of Wisconsin and either:
A) Rent -- these people generally can get their landlord to sign a Rent Certificate (or they must provide copies of receipts or cancelled checks) and said Rent Certificate(s) must be mailed in
B) Pay Property Taxes -- a copy of the tax bill must be mailed in -- note: property taxes don't have to be paid in order to qualify for this credit

Let's say someone made $20,000 and paid some rent -- it does NOT automatically follow that they will end up with any Homestead Credit. There is a sliding scale -- the higher your income, the more rent or property tax the state expects you to be able to pay.

Bill