MN Renters Credit

[BobYTAX]

Instructions for M1PR say to select Renter/Homeowner/Mobile home owner/Nursing home resident to select the type of the form to file in the "M1PR Information" section on Screen 53.221.  My copy of the program is version 2024.4.5.0 which it says is the latest version.  The "M1PR Information" section of screen 53.221 is missing, when I compare it to the same screen of the 2023 program.

I am unable to generate the Rent Credit form at this point due to the missing input section.  How do I report this?

[IRonMaN]

You no longer use the M1PR for the renters credit.  The renters credit is now part of the M-1 filing.

[BobYTAX]

Found it, Thank you.  

The rent is input the same way it used to be, on screen 53.225, but now it carries to new Form M1Rent, and then to MN1REF instead of M1PR.

[IRonMaN]

Yup.  The M1PR is still used for folks looking for a property tax refund.

[sjrcpa]

So, is this one more, or one less, thing for Intuit to mess up with Minnesota tax filings?

[IRonMaN]

I did one over the weekend without out any issues but there is still plenty of time for Intuit to mess it up😁

[taxesbydot]

Taxpayer not required to file due to amount of income. Are non taxable social security benefits still supposed to be added to income for the rent credit? I cannot find anywhere to enter the information and the program is not including it in the calculation.

[IRonMaN]

Nope, no more add back for renters credit.  I haven’t looked at the M1PR form yet to see if that is also true for property owners.

[Lisa Johnson]

Hi,

So, when I looked this up, I found this, but my question is you would have to override this for every client that has this?  That is crazy to have to do an override.  

Yes, non-taxable Social Security benefits are included in the calculation of household income on the Minnesota M1R, Property Tax Refund (Renter's Credit) form for 2024.

According to Section 290A.03, Subdivision 3(a)(2)(v) of the Minnesota statutes, "income" includes "any pension or annuity (including railroad retirement benefits, all payments received under the federal Social Security Act, Supplemental Security Income, and veterans benefits), which was not exclusively funded by the claimant or spouse, or which was funded exclusively by the claimant or spouse and which funding payments were excluded from federal adjusted gross income in the years when the payments were made"This means that non-taxable Social Security benefits are part of the household income calculation for the purposes of the property tax refund

[IRonMaN]

No overrides required

[Lisa Johnson]

Thank you very much for your help.