Keyword Analysis & Research: 2019 schedule cb circuit breaker credit

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Frequently Asked Questions

Do you qualify for the senior circuit breaker tax credit?

For tax year 2019, the assessed value of principal residence exceeds $808,000. If you are eligible for the Circuit Breaker Credit, complete Schedule CB with your Massachusetts state income tax return.

What is the Massachusetts schedule CB-Senior Circuit?

What is the Massachusetts Schedule CB- Senior Circuit Breaker Tax Credit? The Massachusetts Circuit Breaker tax credit is a refundable credit for senior citizens based on the real estate taxes paid on Massachusetts property owned/rented and used as the primary residence. Maximum credit allowed for the tax year is $1,150.

What is the maximum credit for circuit breaker?

The Circuit Breaker tax credit is based on the actual real estate taxes paid on the Massachusetts residential property you own or rent and occupy as your principal residence. The maximum credit amount for tax year 2018 is $1,100. If the credit you're owed exceeds the amount of the total tax payable for the year,...

Do you have to be married to get circuit breaker credit?

Also, you must file as single, married filing jointly or head of household to qualify for this credit. If married filing separately, you do not qualify for this credit. Schedule CB Circuit Breaker Credit. Enclose with Form 1 or Form 1-NR/PY. Do not cut or separate these schedules.

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