Nonrefundable Renter’s Credit

Wood blocks reading "Tax Refund"

As you are preparing to file your state taxes for 2014, please keep in mind one of the many benefits as a renter is the Nonrefundable Renter’s Credit. The Renter’s Credit is a personal income tax credit to offset your tax liability.

To qualify for the Nonrefundable Renter’s Credit you must meet all of the following:
You must meet all of the following to qualify:
1. You were a California resident for the entire year.
2. Your California adjusted gross income (AGI) is:
•$37,768 or less if your filing status is single or married/RDP filing separately.
•$75,536 or less if you are married/RDP filing jointly, head of household, or qualified widow(er).
3. You paid rent for at least half the year for property in California that was your principal residence.
4. The property you rented was not exempt from California property tax.
5. You did not live with another person for more than half the year (such as a parent) who claimed you as a dependent.
6. You were not a minor living with and under the care of a parent, foster parent, or legal guardian.
7. You or your spouse/RDP was not granted a homeowner’s property tax exemption during the tax year.
• You may still qualify for the credit if your spouse/RDP claimed a homeowner’s exemption and you maintained a separate residence for the entire year

If you meet the requirements above the credit is:
• $60 for single or married/RDP filing separately
• $120 for head of household, widow(er), married/RDP filing jointly

For more information visit http://www.ftb.ca.gov or contact a tax professional.

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