Claiming Dependent and Property Tax Credits
As with federal income tax returns, the state of Arizona offers various credits to taxpayers. One credit taxpayers inquire frequently on is the dependent tax credit. Unfortunately, Arizona tax laws do not provide a credit for dependents, although there is an exemption allowance.
To get the dependent exemption, individuals must enter all information requested under the dependent section on front of Forms 140, 140A, 140PY, or under the dependent section on page two of Forms 140PTC and 140X. If there are more dependents to enter, taxpayers can use the continuation sheet provided with each of these forms. Individuals want to include names, social security numbers, relationships and months the dependents lived in the home. Individuals who do not furnish this information may lose the dependent exemption.
As for the property tax credit, individuals may qualify for a credit if they were residents of Arizona the entire year and meet all of the following criteria:
- Paid property taxes or rent on a main home in Arizona during the tax year.
- Were 65 or older by December 31 of the tax year or received Title 16 Supplemental Security Income.
- Earned a total household income less than $3,751 and the taxpayer lived alone, or the total household income was less than $5,501.
Taxpayers should note that property tax claims must be filed on or before the due date, including any extensions, for the year in which the credit is being claimed. They can request an extension of up to six months when filing Form 140PTC. Please read the instructions on the form.
If you have questions on this form, contact [email protected].