Below is a list of the descriptions of Credits which you may access through our program. These credits are followed by a brief description along with the line you can find them on within the state return.
Armed Forces Member Credit
The armed forces member credit is available to certain members of the U.S. armed forces. You may claim the credit if you meet ALL of the following:
* You were on active duty, and
* You received military pay from the federal government in 2016, and
* The military pay was for services performed while stationed outside the United States.
Note: You may not claim the armed forces member credit if you were on active duty as a member of the Reserves or National Guard and you excluded certain military pay from your income.
The credit is equal to the amount of military pay you received for services performed while stationed outside the United States, but not more than $300. If you are married filing a joint return and both spouses qualify for the credit, each may claim up to $300.
Renter's and Homeowner's School Property Tax Credit
You may claim a credit if you paid rent during 2016 for living quarters used as your primary residence OR you paid property taxes during 2016 on your home. You are eligible for a credit whether or not you claim homestead credit. The total combined credit claimed on lines 22a and 22b may not be more than $300 ($150 if married filing a separate return or married filing as head of household).
Note: You may NOT claim the school property tax credit if you or your spouse are claiming the veterans and surviving spouses property tax credit.
You will be required to enter the information below within your Wisconsin state return as it applies to you within the Wisconsin state program.
Rent Paid- Heat Included
Rent Paid –Heat Not included
Property Taxes Paid on Home
For additional information pertaining to the School Property Tax Credit, please click here.
Note: In our program this figure is pulled from your federal return. You will only enter an amount in this section if you would like to adjust the amount being pulled from the federal return.
Homestead Tax Credit
Note: You cannot claim homestead credit if you (or your spouse, if married) claim the veterans and surviving property tax credit or farmland and preservation credit.
The Wisconsin homestead credit program provides direct relief to homeowners and renters. You may qualify if you were:
* At least 18 years old on December 31, 2016
* A Wisconsin resident for all of 2016
* Not claimed as a dependent on anyone's 2016 federal tax return (unless you were 62 or older on December 31, 2016)
* Not living in tax-exempt public housing for all of 2016
* Not living in a nursing home and receiving medical assistance (Title XIX) when you file for homestead credit
* Had total household income, including wages, interest, social security, and income from certain other sources, below $24,680 in 2016.
For additional information on the Homestead Credit, please see the Schedule H instructions.
Itemized Deduction Credit
If the total of certain federal itemized deductions exceeds your Wisconsin standard deduction, you may claim the itemized deduction credit.
If you did not itemize deductions for federal tax purposes, use the amounts which would be deductible if you had itemized deductions.
Exceptions: Even though Schedule 1 has entry lines for medical expenses, interest paid, gifts to charity, and casualty losses, not all of the amounts of these items that are deducted on federal Schedule A can be used for the itemized deduction credit. The following describes the portion of these items that may not be used to calculate the itemized deduction credit.
* Medical Expenses - the amount of medical care insurance and long-term care insurance claimed as a subtraction
* Interest - (i) paid to purchase a second home located outside Wisconsin (ii) paid to purchase a residence which is a boat, or (iii) paid to purchase or hold U.S. government securities, mortgage insurance premiums treated as interest.
* Contributions and interest allocated to you by a tax-option (S) corporation if you treated the amount as a subtraction.
* All casualty and theft losses except casualty losses that are directly related to a federally-declared disaster.
Credit for Taxes Paid to Another State
If you paid tax both to Wisconsin and another state on the same income, you may be able to claim a credit for such tax. Read the Schedule OS instructions to determine if you may claim the credit.
TaxSlayer will automatically calculate this credit for your Resident Wisconsin return if you have a NonResident return created in your account. If you are completing a Part-Year Resident return for the other state, you will be required to enter the information asked within the Wisconsin state program.
**When claiming this credit, Wisconsin requires a copy of the other state tax return. After you have e-filed your state returns and they have been accepted by each state, you will need to print a copy of the other state return and attach it to Wisconsin Form W-RA (included in your Wisconsin printout) and mail it to Wisconsin. Mailing and further instructions can be found directly on Form W-RA. Note: If you fail to mail the other state return, Wisconsin will deny the other state tax credit shown on your Wisconsin return and will adjust your refund or balance due accordingly.
Note: Credit cannot be claimed for taxes paid to Illinois, Indiana, Kentucky, or Michigan on personal service income (such as wages, salaries, tips, commissions, bonuses, etc.) you received from working in one of those states. See Publication 121, Reciprocity
Eligible Veterans and Surviving Spouses Property Tax Credit
Who May Claim the Credit An eligible unremarried surviving spouse or an eligible veteran may claim the veterans and surviving spouses property tax credit. (Note If you claim the veterans and surviving spouses property tax credit, you or your spouse may not claim the school property tax credit, homestead credit, or farmland preservation credit.)
Farmland Preservation Credit - Schedule FC Click Here for Schedule FC instructions.
Farmland Preservation Credit - Schedule FC-A Click Here for Schedule FC-A instructions.
Manufacturing Credit - Schedule MA-M Click Here for Schedule MA-M instructions.
Agriculture Credit - Schedule MA-A Click Here for Schedule MA-A instructions.