Welcome Guest. Register Now!  


For 2013 Tax Tips For Year 2013.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-16-2014, 07:06 PM
Junior Member
 
Join Date: Mar 2014
Posts: 1
Real Estate Tax Credit (NY)

I rent a section 8 apt, that I pay less than $450 a month on avg. Does it qualify for the NY real estate tax credit?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-17-2014, 02:20 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
Quote:
Originally Posted by TaxDon View Post
I rent a section 8 apt, that I pay less than $450 a month on avg. Does it qualify for the NY real estate tax credit?
I guess so According to NYS Dept of Taxation and Finance, as a renter, you or a member of your household paid rent for your residence; the average monthly rent you and other members of your household paid was $450 or less, not counting charges for heat, gas, electricity, furnishings, or board. You are entitled to this refundable credit aslongas your household gross income is $18K or less ; you occupied the same NY residence for six months or more ; uou were a NYS resident for the entire tax year ;you could not be claimed as a dependent on another taxpayer's federal income tax return ;your residence was not completely exempted from real property taxes ;you meet all the conditions listed under either Homeowners or Renters below



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Real Estate HSmiley Income 3 08-18-2013 12:10 PM
new real estate professional ShermanGH Rental Real-Estate 1 02-18-2013 05:50 PM
Question about Real Estate Tax LDM2011 Itemized Deductions 1 03-16-2011 07:03 AM
Is the Real Estate Withholding Tax an additional tax on sale of Oregon Real Property? TaxGuru Oregon 0 11-04-2010 12:03 PM
Real estate professional offsetting Real Este losses against spouse's W-2 income MRAMANNA Rental Real-Estate 2 03-08-2009 01:49 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.