WI I-017i 2023-2024 free printable template

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This is an overview of the Homestead Credit program This review will cover changes in the program qualifications for the credit areas where we have the most errors and topics for which we receive the most questions Determining if your client qualifies for homestead Credit is an important time-saving step If your client does not qualify then there'no reason to complete the form Some additional qualifications were introduced for homestead credit claims for tax year 2017 and thereafter If your client answers NO to any of these questions your client does not qualify for the Homestead Credit Is your client age 18 or older than of December31 of the claim year Is one or more of the following conditions true for your client for tax year 2017 or thereafter One are they age 62 or older Two if they are under age 62 do they have earned income during the tax year Earned income is the sum of all wages salaries tips or other employee compensation and net earnings from self-employment Three if they are under age 62 and do not have earned income are they considered disabled If so do they have the required verification from a physician's statement a veteran's statement or a Social Security document In addition to the new requirements for tax years 2017 and forward which we just covered; the previous homestead credit requirements still apply If your client answers No to any of these questions they are not eligible for the homestead credit in that tax year Was your client a resident of Wisconsin forth entire year This means a legal resident here from January1 to December 31 In addition the claimant may be residing in Wisconsin temporarily; such as an out-of-state student who resides in Wisconsin to attend college but plans to move back to their state of residency upon graduation Is your client's household income less than24680 Remember household income is not the sambas taxable income It includes both taxable and non-taxable income items And did your client own or rent the Wisconsin property they lived in during the year Again if your client answers no to any of these questions they do not qualify for the Homestead Credit If your client answers YES to any of the following questions your client also does not qualify for the homestead credit Was your client claimed by another taxpayers a dependent There is an exception to this rule if they are over age 62 then they still qualify Did your client live in tax-exempt property This does not include a housing authority that makes payments under sec 661201 of Wisconsin Statutes but refers to other tax-exempt properties such as dorms prisons or church property Is your client filing on behalf of a person who is deceased A claimant must be alive at the time of filing to qualify for the homestead credit Has someone else in your client's household already filed a homestead credit claim for this year A household is defined as a claimant and the claimant's spouse living in the claimant's homestead If the claimant is single they...