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Maine Free Printable 19_1040me_book_dwnld.indd for 2020 Maine Schedule PTFC property tax fairness credit

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Schedule PTFC property tax fairness credit
19_1040me_book_dwnld.indd

Clear Form Print Form SCHEDULE PTFC/STFC FORM 1040ME 2019 PROPERTY TAX FAIRNESS CREDIT SALES TAX FAIRNESS CREDIT For MAINE RESIDENTS and PART-YEAR RESIDENTS ONLY. *1902205* Enclose with Form 1040ME. See instructions. For more information, visit www.maine.gov/revenue/forms. Attachment Sequence No. 3 Name(s) as shown on Form 1040ME 99 Your Social Security Number Note: If your filing status is married filing separately, you cannot claim either the property tax fairness credit or the sales tax fairness credit. Enter your date of birth If married, enter your spouse’s date of birth MM DD MM DD YYYY YYYY Physical location of property where you lived during 2019 (if different from your mailing address): TOTAL INCOME - Complete line 1 or line 2 below, but not both. Complete line 1 if you do not file federal Form 1040 or Form 1040-SR. Complete line 2 if you do file federal Form 1040 or Form 1040-SR. Then go to line 3. DO NOT ENTER $ signs, commas, or decimals: IF YOU DO NOT FILE FEDERAL FORM 1040 OR FORM 1040-SR, ENTER: 1. (a) Social security benefits and railroad retirement benefits. (See instructions.).....................................1a. .00 (b) Interest and dividends. (See instructions.) .........................................................................................1b. .00 (c) Pensions, annuities and IRA distributions. (See instructions.) ........................................................... 1c. .00 (d) Wages, salaries, tips, etc. (See instructions.) ....................................................................................1d. .00 (e) Other income. (See instructions.).......................................................................................................1e. .00 OR, IF YOU DO FILE FEDERAL FORM 1040 OR FORM 1040-SR, ENTER: 2. 3. (a) Federal total income. (From federal Form 1040, line 7b or Form 1040-SR, line 7b.) If filing Schedule NRH - see instructions. ...........................................................................................2a. .00 (b) Social security benefits not included on line 2a above. (Federal Form 1040, line 5a minus line 5b or Form 1040-SR, line 5a minus line 5b) and railroad retirement benefits not included on line 2a above. (See instructions.) ..................................................................................................2b. .00 (c) Interest not included on line 2a above. If filing Schedule NRH - see instructions. ............................. 2c. .00 (d) Loss add-backs. (See instructions.) ...................................................................................................2d. .00  .00 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 filing status and the number of qualifying children and dependents on Form 1040ME, line 13a, you do not qualify for the property tax fairness credit. Continue on next page. If your Filing Status is: Form 1040ME, line 13a is: AND To apply for the property tax 0 1 more than 1 OR OR fairness credit, go to line Your maximum income limitation is: 4. If you are applying only Single $34,167 $34,167 $34,167 for the sales tax fairness credit, go to line 13. Head of Household $44,167 $44,167 $55,000 Married filing Jointly or Qualifying Widow(er) $44,167 $55,000 $55,000 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 filing status and the number of qualifying children and dependents on Form 1040ME, line 13a, you do not qualify for the sales tax fairness credit. 1 2019 Form 1040ME, Schedule PTFC/STFC, page 2 99 *1902206* PROPERTY TAX FAIRNESS CREDIT (lines 4 through 12): 4. 5. 6. 7. DO NOT ENTER $ signs, commas, or decimals: Enter the property tax you paid on your home in 2019. (See instructions.) ................................................4. If you paid no property tax in 2019, skip to line 5a. (a) Enter the rent you paid on your home in 2019. (See instructions.) ....................................................5a. If you paid no rent in 2019, skip to line 6. (b) Does the rent entered on line 5a include heat, utilities, furniture or similar items?............................... 5b. (c) If line 5b is yes and you know the amount paid for heat, utilities, furniture or 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. .00 .00 Yes No .00 (d) Line 5a minus line 5c. ........................................................................................................................5d. .00 (e) Multiply line 5d by 15% (.15). .............................................................................................................5e. (f) Landlord’s name and telephone number: .00 Add lines 4 and 5e.......................................................................................................................................6. Enter the amount shown in the table below for your filing status and the number of qualifying children and dependents on Form 1040ME, line 13a: ................................................................................................... 7. .00 If your Filing Status is: .00 Form 1040ME, line 13a is: AND  0 OR 1 OR more than 1 Your maximum benefit base is: Single $2,050 $2,050 $2,050 Head of Household $2,650 $2,650 $3,300 Married filing Jointly or Qualifying Widow(er) $2,650 $3,300 $3,300 8. Benefit base. Enter the smaller of line 6 or line 7. .......................................................................................8. .00 9. Multiply line 3 by 6% (.06). ..........................................................................................................................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. .00 Yes .00 10. Subtract line 9 from line 8..........................................................................................................................10. 11. Were you or your spouse (if married filing jointly) at least 65 years of age during the tax year? .............. 11. No Yes No (a) If yes, enter $1,200. If no, enter $750. ............................................................................................. 11a. .00 12. Enter line 10 or line 11a, whichever is smaller, here and on Form 1040ME, line 25d. ............................12. .00 SALES TAX FAIRNESS CREDIT (lines 13 and 13a): 13. See the table on page 16 for your filing status. Enter the amount shown for your total income from line 3 and the number of qualifying children and dependents. If you are filing Schedule NR or Schedule NRH, go to line 13a. Otherwise, enter this amount on Form 1040ME, line 25e. .............................................13. .00 (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. .00 Clear Form 2 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 $750 ($1,200 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 2019 was not more than the amount shown in the table below for your filing status and the number of qualifying children and dependents you claim: If your Filing Status is: Form 1040ME, line 13a is: AND  0 OR 1 OR more than 1 Your maximum income limitation is: Single $34,167 $34,167 $34,167 Head of Household $44,167 $44,167 $55,000 Married filing Jointly or Qualifying Widow(er) $44,167 $55,000 $55,000 • You paid property tax on your home (principal residence) in Maine during the tax year that is greater than 6% of your total income or you paid rent on your home (principal residence) in Maine during the tax year that is greater than 40% 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 $225, 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 2019 was not more than $26,750 if filing single; $41,600 if filing head of household; or, $52,500 if married filing 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 filing status is married filing 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. This amount can generally be found on federal Form SSA-1099. (See also If you are a resident or part-year resident of Maine filing Form 1040ME federal Form 1040, line 5a or Form 1040-SR, line 5a). Also enter on this only to claim the property tax fairness credit and/or the sales tax line the amount of railroad retirement benefits received. This amount can fairness credit, you have no Maine income modifications on Form generally be found on federal Form RRB-1099 or RRB-1099-R. 1040ME, Schedule 1 and you do not file 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 filing status on lines 3-7; • Enter your correct residency status on lines 8-11; • Check the applicable boxes on lines 12a through 12d if either you or your spouse were 65 years or over or blind during 2019; • 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. 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 filed 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 filed 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; any other income that would be included in federal total income if you filed 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 file federal Form 1040 or Form 1040-SR: 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 file federal Form 1040 or Form 1040-SR, complete lines 1a through 1e. If you do file a federal Form 1040 or Form 1040-SR, enter your income on lines 2a through 2d. If you do not file federal Form 1040 or Form 1040-SR: Line 1a. Social security and railroad retirement benefits. Enter all payments received under the federal Social Security Act, including regular social security benefits, social security disability benefits and supplemental security income. Include the gross amount before Medicare is subtracted. Line 2a. Federal Total Income. Enter your federal total income from federal Form 1040, line 7b or Form 1040-SR, line 7b. If filing 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 benefits received. See the instructions for line 1a above. If filing 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 filing Form 1040ME, Schedule NRH, enter your portion of the interest earned. 3 Line 2d. Loss add-backs. Enter on line 2d the amount of any negative amount (net loss) shown on federal Form 1040 or Form 1040-SR, line 6 and federal Schedule 1, lines 3, 4, 5, 6, and 8. Enter the total of the amounts as a positive number. If filing 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 2019, enter the amount of property tax paid during 2019 on your house and house lot up to 10 acres. 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 2019. • 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. 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 2019 on line 4 and the rent you paid during 2019 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. If your filing status is Single, find 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: At least: But not more than: 0 20,751 21,251 21,751 22,251 22,751 23,251 23,751 24,251 24,751 25,251 25,751 26,251 26,751 20,750 21,250 21,750 22,250 22,750 23,250 23,750 24,250 24,750 25,250 25,750 26,250 26,750 27,250 And Form 1040ME, line 13 is 1: Enter: 125 115 105 95 85 75 65 55 45 35 25 15 5 0 Line 5a. Enter the total rent you paid for your home (principal residence) in Maine during 2019. 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 floor apartment and run a business on the 1st floor. Claim only the portion of rent you paid for the right to live in the 2nd floor 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 filing status (from Form 1040ME, lines 3 through 7). a) To find the credit, read down the “At least - But not more than” columns and find 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 filing status is married filing jointly, your total income from Schedule PTFC/STFC, line 3 is $49,500, and you claim 3 qualifying children and dependents, enter $65 on Schedule PTFC/STFC, line 13. If your filing status is Married filing jointly or Qualifying widow(er), find the amount for your income and number of qualifying children and dependents below: If Schedule PTFC/STFC, line 3 is: At least: But not more than: 0 41,501 42,501 43,501 44,501 45,501 46,501 47,501 48,501 49,501 50,501 51,501 52,501 41,500 42,500 43,500 44,500 45,500 46,500 47,500 48,500 49,500 50,500 51,500 52,500 53,500 And the number on Form 1040ME, line 13a is: 0 1 2+ 175 155 135 115 95 75 55 35 15 0 0 0 0 200 180 160 140 120 100 80 60 40 20 0 0 0 225 205 185 165 145 125 105 85 65 45 25 5 0 4 If your filing status is Head of Household, find the amount for your income and number of qualifying children and dependents below: If Schedule PTFC/STFC, line 3 is: At least: But not more than: 0 31,101 31,851 32,601 33,351 34,101 34,851 35,601 36,351 37,101 37,851 38,601 39,351 40,101 40,851 41,601 31,100 31,850 32,600 33,350 34,100 34,850 35,600 36,350 37,100 37,850 38,600 39,350 40,100 40,850 41,600 42,350 And the number on Form 1040ME, line 13a is: 0-1 2 3+ 175 160 145 130 115 100 85 70 55 40 25 10 0 0 0 0 200 185 170 155 140 125 110 95 80 65 50 35 20 5 0 0 225 210 195 180 165 150 135 120 105 90 75 60 45 30 15 0
Extracted from PDF file 2019-maine-schedule-ptfc.pdf, last modified October 2019

More about the Maine Schedule PTFC Individual Income Tax Tax Credit TY 2019

You may qualify for a refundable Property Tax Fairness Credit up to $600 ($900 if you are 65 years of age or older) if you meet the criteria outlined in this form. Schedule PTFC requires you to list multiple forms of income, such as wages, interest, or alimony .

We last updated the Schedule PTFC property tax fairness credit in March 2020, so this is the latest version of Schedule PTFC, fully updated for tax year 2019. You can download or print current or past-year PDFs of Schedule PTFC directly from TaxFormFinder. You can print other Maine tax forms here.


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Other Maine Individual Income Tax Forms:

TaxFormFinder has an additional 61 Maine income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Income Tax Instructions Form 1040-ME Instructions
Form 1040ME 1040ME Income Tax Return
Schedule 1 Income Modifications / Pension Income Deduction Worksheet
Schedule PTFC Schedule PTFC property tax fairness credit
Schedule A Adjustments to tax

Download all ME tax forms View all 62 Maine Income Tax Forms


Form Sources:

Maine usually releases forms for the current tax year between January and April. We last updated Maine Schedule PTFC from the Revenue Services in March 2020.

Show Sources >

Schedule PTFC is a Maine Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Maine Schedule PTFC

We have a total of five past-year versions of Schedule PTFC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Schedule PTFC

19_1040me_book_dwnld.indd

2018 Schedule PTFC

18_1040me_ptfc_stfc_d.indd

2017 Schedule PTFC

17_1040me_ptfc_stfc_d.indd

2016 Schedule PTFC

16_1040 sched pstfc_download.indd

Schedule PTFC property tax fairness credit 2015 Schedule PTFC

15_1040_sched ptfc_download.indd


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