Get Download Form Sch Heptc-1 - Formupack

Filling out the Download Form Sch HEPTC-1 - FormuPack is an essential process for individuals seeking the Homestead Excess Property Tax Credit. This guide provides a clear and user-friendly approach to completing the form correctly and efficiently.

Follow the steps to fill out the Download Form Sch HEPTC-1 - FormuPack online

1. Click the ‘Get Form’ button to access the form and open it in your preferred editing tool.
2. Begin with section one by entering your primary last name as it appears on Form IT-140. Make sure this is accurate, as it is crucial for identification.
3. Input your Social Security number in the designated field. This information is necessary for processing your tax credit.
4. Next, enter the total amount of West Virginia property tax you paid on your owner-occupied home in 2011. Ensure this figure reflects only what you have spent on property taxes.
5. For the Federal Adjusted Gross Income (AGI), retrieve this from your Form 1040, 1040A, or 1040EZ and enter it in the specified line.
6. Complete the section for income modifications, ensuring you fill out lines 2a, 2b, 2c, and 2d with the corresponding amounts from the guidelines provided.
7. Add the amounts on lines 2a, 2b, 2c, and 2d and input this total on line 3.
8. Total your gross income by adding the amounts from line 2 and line 3, and place the result on line 4.
9. Calculate 4% of the total gross income from line 4 and place this figure on line 5.
10. Review whether the amount on line 1 exceeds the amount on line 5. If yes, continue to line 7, if not, you are ineligible for this tax credit.
11. Subtract the amount on line 5 from line 1 and record the result on line 7. This value should be no higher than $1,000.
12. If applicable, indicate your eligibility for the local homestead property tax exemption and proceed or carry the amount as directed.
13. Determine your qualification based on your Federal Adjusted Gross Income as stated in the instructions, adding relevant conditions for your household size.
14. Once completed, review the information for accuracy before saving your edits, downloading a copy, printing, or sharing the form as needed.

Complete your forms online today to ensure you receive the credits you're entitled to.