Limitations.
1.
(1)#
No credit may be allowed under this subsection unless it is claimed within the period under s. 71.75 (2).
(2)#
No credit may be allowed under this subsection for a taxable year covering a period of less than 12 months, except for a taxable year closed by reason of the death of the claimant.
(3)#
The credit under this subsection cannot be claimed by a part-year resident or a nonresident of this state.
(4)#
A claimant who claims the credit under this subsection is subject to the special rules in 26 USC 21 (e) (2) and (4).
(5)#
Notwithstanding 26 USC 21 (c), for taxable years beginning after December 31, 2023, the maximum allowable expenses to determine the amount of the credit under par. (b) 2. is $10,000 for one qualifying individual, as defined in 26 USC 21 (b), and $20,000 for 2 or more qualifying individuals, as defined in 26 USC 21 (b).