us-me/form/mrs/ty2022/schedule-pstfc/document-1

loading…

(e)Other income. (See…#

(e) Other income. (See instructions.)...................................................................................................... 1e. OR, IF YOU DO FILE FEDERAL FORM 1040 OR FORM 1040-SR, ENTER: 2. (a) Federal total income. (From federal Form 1040, line 9 or Form 1040-SR, line 9.)

(If ﬁ ling Schedule NRH - see instructions.) ....................................................................................... 2a.

(b) Social security beneﬁ ts not included on line 2a above. (Federal Form 1040, line 6a minus

line 6b or Form 1040-SR, line 6a minus line 6b) and railroad retirement beneﬁ ts not included

on line 2a above. (See instructions.) ................................................................................................. 2b.

(d) Loss add-backs. (See instructions.) .................................................................................................. 2d. 3. Total Income. Add lines 1a through 1e OR lines 2a through 2d above. .................................................. 3.

Note that if the amount on line 3 is more than the amount shown in the table below for your ﬁ ling

status and the number of qualifying children and dependents on Form 1040ME, line 13a, you do not

qualify for the property tax fairness credit.

If the amount on line 3 is more than the maximum income amount shown in the sales tax fairness

credit table (see instructions for line 13) for your ﬁ ling status and the number of qualifying children

and dependents on Form 1040ME, line 13a, you do not qualify for the sales tax fairness credit. Name(s) as shown on Form 1040ME 2022 99 *2202205* Your Social Security Number SCHEDULE PTFC/STFC FORM 1040ME Attachment Sequence No. 3 PROPERTY TAX FAIRNESS CREDIT SALES TAX FAIRNESS CREDIT For MAINE RESIDENTS and PART-YEAR RESIDENTS ONLY. Enclose with Form 1040ME. See instructions. For more information, visit www.maine.gov/revenue/tax-return-forms. MM DD YYYY MM DD YYYY Continue on next page. To apply for the property tax fairness credit, go to line 4. If you are applying only for the sales tax fairness credit, go to line 13. If your Filing Status is: Form 1040ME, line 13a is: 0 1 more than 1 Your income must be less than: Single $55,000 $55,000 $55,000 Head of Household $70,000 $70,000 $86,250 Married ﬁ ling Jointly or Qualifying Widow(er) $70,000 $86,250 $86,250 AND OR OR · DO NOT ENTER $ signs, commas, or decimals. 1 Clear Form Print Form

.00

.00 PROPERTY TAX FAIRNESS CREDIT (lines 4 through 12): 4. Enter the property tax you paid on your home in 2022. (See instructions.) ............................................. 4.

If you paid no property tax in 2022, skip to line 5a. 5. (a) Enter the rent you paid on your home in 2022. (See instructions.) ................................................... 5a.

If you paid no rent in 2022, skip to line 6.

(b) Does the rent entered on line 5a include heat, utilities, furniture, or similar items? .......................... 5b. Yes No

similar items, enter that amount on line 5c. If yes, and you do not know the amount paid,

multiply line 5a by 15% (.15) and enter the result on line 5c. If line 5b is no, enter “0” on line 5c. ... 5c.

(d) Line 5a minus line 5c. ....................................................................................................................... 5d.

(e) Multiply line 5d by 15% (.15). ............................................................................................................ 5e.

(f)Landlord’s name and telephone number:#

(f) Landlord’s name and telephone number:

6. Add lines 4 and 5e.................................................................................................................................... 6. 7. Enter the amount shown in the table below for your ﬁ ling status and the number of qualifying children

and dependents on Form 1040ME, line 13a: ........................................................................................... 7.

8. Beneﬁ t base. Enter the smaller of line 6 or line 7. .................................................................................... 8. 9. Multiply line 3 by 4% (.04). ....................................................................................................................... 9.

(a) Is the amount on line 8 more than the amount on line 9? If yes, go to line 10 below. If no, you do not

qualify for the property tax fairness credit. Go to line 13 below to apply for the sales tax fairness credit. .. 9a. Yes No 10. Subtract line 9 from line 8......................................................................................................................... 10. 11. Were you or your spouse (if married ﬁ ling jointly) at least 65 years of age during the tax year? ............. 11. Yes No

(a) If yes, enter $1,500. If no, enter $1,000. ........................................................................................... 11a. 12. Enter line 10 or line 11a, whichever is smaller, here and on Form 1040ME, line 25d. ........................... 12. SALES TAX FAIRNESS CREDIT (lines 13 and 13a): 13. See the table on page 18 for your ﬁ ling status. Enter the amount shown for your total income from

line 3 and the number of qualifying children and dependents. If you are ﬁ ling Schedule NR or

Schedule NRH, go to line 13a. Otherwise, enter this amount on Form 1040ME, line 25e. ............................13. (a) PART-YEAR RESIDENTS FILING SCHEDULE NR OR SCHEDULE NRH - You must prorate the sales

tax fairness credit. Schedule NR, multiply line 13 by the Maine-source income ratio (1.0000

minus Schedule NR, line 7). Schedule NRH, multiply line 13 by the Maine-source income ratio

of your income (1.0000 minus Schedule NRH, line 7, column C).

Enter the result here and on Form 1040ME, line 25e. ...................................................................... 13a. 2022 Form 1040ME, Schedule PTFC/STFC, page 2 *2202206* If your Filing Status is: Form 1040ME, line 13a is: 0 1 more than 1 Your maximum beneﬁ t base is: Single $2,200 $2,200 $2,200 Head of Household $2,800 $2,800 $3,450 Married ﬁ ling Jointly or Qualifying Widow(er) $2,800 $3,450 $3,450 AND OR OR · DO NOT ENTER $ signs, commas, or decimals. 99 2 Clear Form Print Form

SCHEDULE PTFC/STFC – PROPERTY TAX FAIRNESS CREDIT & SALES TAX FAIRNESS CREDIT INSTRUCTIONS (Form 1040ME, lines 25d and 25e) Who is eligible? You may qualify for a refundable Property Tax Fairness Credit up to $1,000 ($1,500 if you are 65 years of age or older) if you meet all of the following: • You were a Maine resident during any part of the tax year; • You owned or rented a home in Maine during any part of the tax year and lived in that home as your principal residence during the year; • Your total income during 2022 was less than the amount shown in the table below for your ﬁ ling status and the number of qualifying children and dependents you claim: • You paid property tax on your home (principal residence) in Maine during the tax year that is greater than 4% of your total income or you paid rent on your home (principal residence) in Maine during the tax year that is greater than 26.67% of your total income. Note that the amount of property tax or rent you can include may be limited. See line 7 on Schedule PTFC/STFC. You may qualify for a refundable Sales Tax Fairness Credit up to $240, depending on the number of qualifying children and dependents on Form 1040ME, line 13a, if you meet all of the following: • You were a Maine resident during any part of the tax year; • Your total income during 2022 was not more than $27,850 if ﬁ ling single; $44,050 if ﬁ ling head of household; or, $54,700 if married ﬁ ling jointly or qualifying widow(er). See the line 13 instructions below for more information. You cannot claim either the Property Tax Fairness Credit or Sales Tax Fairness Credit if your ﬁ ling status is married ﬁ ling separately. You cannot claim the Sales Tax Fairness Credit if you are claimed as a dependent on another person’s return. SCHEDULE PTFC/STFC - SPECIFIC INSTRUCTIONS Step 1. Complete Form 1040ME according to the form instructions. If you are a resident or part-year resident of Maine ﬁ ling Form 1040ME only to claim the property tax fairness credit and/or the sales tax fairness credit, you have no Maine income modiﬁ cations on Form 1040ME, Schedule 1A or Schedule 1S, and you do not ﬁ le a federal income tax return, complete Maine Form 1040ME according to the instructions below: • Fill in your name, address, social security number, telephone number and, if married, your spouse’s name and social security number; • Check Box A below your address; • Enter your correct ﬁ ling status on lines 3-7; • Enter your correct residency status on lines 8-11a; • Check the applicable boxes on lines 12a through 12d if either you or your spouse were 65 years or over or blind during 2022; • Enter the number of personal exemptions for yourself and your spouse, if married you can claim on line 13; • Enter the number of qualifying children and dependents you can claim on line 13a; • Complete Schedule PTFC/STFC. See the Step 2 instructions below; • Enter the amount from Schedule PTFC/STFC, line 12 on Form 1040ME, line 25d; • Enter the amount from Schedule PTFC/STFC, line 13 or line 13a, whichever applies, on Form 1040ME, line 25e; • Enter the sum of Form 1040ME, lines 25d and 25e on Form 1040ME, lines 25f, 27, 28, 32 and 33b. Any refund will be mailed to you. However, if you want your refund deposited directly into your checking or savings account, also complete lines 33c, 33d and 33e. Step 2. Complete Schedule PTFC/STFC. Enter your name and social security number as shown on Form 1040ME. Also enter your date of birth and your spouse’s date of birth, if married. Complete EITHER lines 1a through 1e OR lines 2a through 2d. If you do not ﬁ le federal Form 1040 or Form 1040-SR, complete lines 1a through 1e. If you do ﬁ le a federal Form 1040 or Form 1040-SR, enter your income on lines 2a through 2d. If you do not ﬁ le federal Form 1040 or Form 1040-SR: Line 1a. Social security and railroad retirement beneﬁ ts. Enter all payments received under the federal Social Security Act, including regular social security beneﬁ ts, social security disability beneﬁ ts and supplemental security income. Include the gross amount before Medicare is subtracted. This amount can generally be found on federal Form SSA-1099. (See also federal Form 1040, line 6a or Form 1040-SR, line 6a). Also enter on this line the amount of railroad retirement beneﬁ ts received. This amount can generally be found on federal Form RRB-1099 or RRB-1099-R. Line 1b. Interest and dividends. Enter all interest and ordinary dividends you received. These amounts can generally be found on the federal Form 1099 issued by the payer. Line 1c. Pensions, annuities and IRA distributions. Enter the amount of all pensions, annuities and IRA distributions you received that would be included in federal total income if you ﬁ led a federal income tax return. These amounts can generally be found on the federal Form 1099 issued by the payer. Line 1d. Wages, salaries, tips, etc. Enter the total amount of wages, salaries and other compensation that would be included in federal total income if you ﬁ led a federal income tax return. This amount is generally reported in box 1 of the federal Form W-2 or on the federal Form 1099 issued by the payer. Line 1e. Other income. Enter alimony received; business income (but do not enter business losses); capital gains; other gains; any income from rental real estate, royalties, partnerships, S corporations, trusts, etc.; farm income; unemployment compensation; and any other income that would be included in federal total income if you ﬁ led a federal income tax return. For more information on federal total income, see the federal income tax forms and instructions at www.irs.gov. If you do ﬁ le federal Form 1040 or Form 1040-SR: Line 2a. Federal Total Income. Enter your federal total income from federal Form 1040, line 9 or Form 1040-SR, line 9. If ﬁ ling Form 1040ME, Schedule NRH, enter the amount from Schedule NRH, line 1j, column B. Line 2b. To the extent not already included in federal total income on line 2a, enter all payments received under the federal Social Security Act and the amount of railroad retirement beneﬁ ts received. See the instructions for line 1a above. If ﬁ ling Form 1040ME, Schedule NRH, enter only those payments you received. Line 2c. Enter only amounts not already included in federal total income on line 2a. If ﬁ ling Form 1040ME, Schedule NRH, enter your portion of the interest earned. If your Filing Status is: Form 1040ME, line 13a is: 0 1 more than 1 Your income must be less than: Single $55,000 $55,000 $55,000 Head of Household $70,000 $70,000 $86,250 Married ﬁ ling Jointly or Qualifying Widow(er) $70,000 $86,250 $86,250 AND OR OR · 3

Line 2d. Loss add-backs. Enter on line 2d the amount of any negative amount (net loss) included on federal Form 1040 or Form 1040-SR, line 7 and federal Schedule 1, lines 3, 4, 5, 6, and 8a through 8z. Enter the total of the amounts as a positive number. If ﬁ ling Form 1040ME, Schedule NRH, enter only those amounts shown on Schedule NRH, column B, lines 1f, 1g, 1h, and 1i. After completing line 3, if you are applying only for the Sales Tax Fairness Credit, skip to line 13. Line 4. Property Tax. If you owned your home in Maine and lived in that home during 2022, enter the amount of property tax paid during 2022 on your house and house lot up to 10 acres. Include amounts paid by the State to the municipality under the Property Tax Deferral Program. If your house is on land that is more than 10 acres, call your town or city assessor to get the tax on your house and the land up to 10 acres. Part-year residents - enter only the property tax amounts you paid for your home in Maine during the part of the tax year you were a Maine resident. Note: You may be asked to provide proof of the property tax paid before a refund is issued. • Do not use the amount of property tax assessed; enter only the amount of tax actually paid on your home during 2022. • Do not include amounts paid for interest or special assessments. • Do not include property taxes on property other than your primary residence. • Do not claim any property tax paid by others, except for amounts paid by the State under the Property Tax Deferral Program. If the home is jointly owned, enter only the property tax you paid. You can claim the tax you paid on your home even if you have transferred ownership to someone else under a legal agreement that allows you to continue to live in the home, but you can claim the tax on the home only for as long as you live in the home. • Do not include taxes on any part of your home or property used exclusively for business. For example, you owned a two-story building. You lived upstairs and ran a store downstairs. You can claim one-half of the property tax you paid. Do not include property taxes claimed as a business expense on your federal tax return. • Do not include taxes on any part of your home that serves as a separate dwelling. Include only the taxes paid for the part of the home you occupied as your primary residence. For example, your primary residence is one unit located in a three-unit dwelling. You can claim only one-third of the property tax paid. Note: If you owned a home that was on rented land or vice-versa, you can include the property tax you paid during 2022 on line 4 and the rent you paid during 2022 on line 5a. For example, you owned a mobile home located in a park. Enter the property tax on your mobile home on line 4 and the lot rent you paid on line 5a. Line 5a. Enter the total rent you paid for your home (principal residence) in Maine during 2022. If you moved during the tax year, include the rent you paid during the tax year to live in each home or apartment. Include Workfare payments received from your town used to pay your rent. Part-year residents - enter only rent amounts you paid on your home in Maine during the part of the tax year you were a Maine resident. Note: You may be asked to provide copies of rent receipts or canceled checks before a refund is issued. • Do not include mortgage payments or room and board payments. Mortgage payments and room and board payments are not rent. • Do not include the rent amount paid by a government program. • Do not include rent for any part of your home that was rented out to others. For example, you share an apartment with your sister. Each of you are equally responsible for one-half of the rent. Include only the amount of rent you paid to live in the apartment. • Do not include rent for any part of your home used exclusively for business. For example, you rent a two-story building. You live in a 2nd ﬂ oor apartment and run a business on the 1st ﬂ oor. Claim only the portion of rent you paid for the right to live in the 2nd ﬂ oor apartment. • Do not include rent claimed as a business expense on your federal return. Line 5c. If the rent you entered on line 5a includes an amount for heat, utilities, furniture, or other similar items and you know the amount paid toward the heat, utilities, furniture, or other similar items, enter the amount on line 5c. If your landlord cannot provide the amount you paid for heat, utilities, furniture, or other similar items, multiply the amount on line 5a by 15% (.15) and enter the result on line 5c. If the rent entered on line 5a does not include an amount paid for heat, utilities, furniture, or other similar items, enter 0 on line 5c. Line 5d. Subtract line 5c from line 5a. The rent you paid can include only the amount paid for the right to live in your home, excluding amounts paid for heat, utilities, furniture, or other similar items. Line 13. Sales Tax Fairness Credit. See the tables below for your ﬁ ling status (from Form 1040ME, lines 3 through 7). a) To ﬁ nd the credit, read down the “At least - But not more than” columns and ﬁ nd the line that includes your Total Income from Schedule PTFC/STFC, line 3. b) Then, go to the column that includes the number of qualifying children and dependents on Form 1040ME, line 13a. Enter the credit from that column on Schedule PTFC/STFC, line 13. Example. If your ﬁ ling status is married ﬁ ling jointly, your total income from Schedule PTFC/STFC, line 3 is $51,700, and you claim 3 qualifying children and dependents, enter $80 on Schedule PTFC/STFC, line 13. If your ﬁ ling status is Married ﬁ ling jointly or Qualifying widow(er), ﬁ nd the amount for your income and number of qualifying children and dependents below: If Schedule PTFC/STFC,

line 3 is:

But not At more least: than: 0 1 2+ 0 43,700 185 210 240 43,701 44,700 165 190 220 44,701 45,700 145 170 200 45,701 46,700 125 150 180 46,701 47,700 105 130 160 47,701 48,700 85 110 140 48,701 49,700 65 90 120 49,701 50,700 45 70 100 50,701 51,700 25 50 80 51,701 52,700 5 30 60 52,701 53,700 0 10 40 53,701 54,700 0 0 20 54,701 55,700 0 0 0 And the number on Form 1040ME, line 13a is: If your ﬁ ling status is Single, ﬁ nd the amount for your income below (Note: you must not be claimed as a dependent on another person’s return): If Schedule PTFC/STFC, line 3 is:

But not At more least: than:

Enter: 0 21,850 130 21,851 22,350 120 22,351 22,850 110 22,851 23,350 100 23,351 23,850

90 23,851 24,350

80 24,351 24,850

70 24,851 25,350

60 25,351 25,850

50 25,851 26,350

40 26,351 26,850

30 26,851 27,350

20 27,351 27,850

10 27,851 28,350

0 If your ﬁ ling status is Head of Household, ﬁ nd the amount for your income and number of qualifying children and dependents below: If Schedule PTFC/STFC,

line 3 is:

But not At more least: than: 0-1 2 3+ 0 32,800 185 210 240 32,801 33,550 170 195 225 33,551 34,300 155 180 210 34,301 35,050 140 165 195 35,051 35,800 125 150 180 35,801 36,550 110 135 165 36,551 37,300 95 120 150 37,301 38,050 80 105 135 38,051 38,800 65 90 120 38,801 39,550 50 75 105 39,551 40,300 35 60 90 40,301 41,050 20 45 75 41,051 41,800 5 30 60 41,801 42,550 0 15 45 42,551 43,300 0 0 30 43,301 44,050 0 0 15 44,051 44,800 0 0 0 And the number on Form 1040ME, line 13a is: And Form 1040ME, line 13 is 1: 4

(b)Interest and dividends. (See instructions.)…#

(c)Pensions, annuities and IRA distributions. (See…#

(d)Wages, salaries, tips, etc. (See instructions.)…#

(e)Other income. (See…#

(f)Landlord’s name and telephone number:#