02-13-2014 11:25 AM
I think I should qualify for renter's credit, but when I put my information in, it says I do not qualify. I can not be claimed as someone's dependent. The property is NOT tax exempt and I am NOT claiming 2013 exempt. I have rented ALL of 2013 and make less than the maximum for single filers.
Solved! Go to Solution.
02-13-2014 11:39 AM
Did you have any tax liability after your California exemptions?
The Renter's Credit is a nonrefundable credit, so it only serves to reduce your tax liability.
02-13-2014 12:18 PM
That is correct. Only if you owed before the renter's credit was calculated would you receive the California Renter's Credit.
Since the renter's credit is either $60 or $120 for residents (it's prorated for part-year residents), it's not a credit that all renters get. Some make too little money and same make too much money.
We will always ask whether you rent or own at H&R Block as there are tax deductions for each and we want to make sure you get your maximum refund.