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Minnesota Free Printable 2019 M1WFC, Minnesota Working Family Credit for 2020 Minnesota Working Family Credit

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Working Family Credit
2019 M1WFC, Minnesota Working Family Credit

NEAR FINAL DRAFT 7/31/19 *191441* 2019 Schedule M1WFC, Minnesota Working Family Credit To claim this credit, you must be a full- or part-year resident of Minnesota. If you are a full-year nonresident, you are not eligible for this credit. Before you complete this schedule, complete the appropriate federal EIC worksheet. If you are restricted by the Internal Revenue Service (IRS) from claiming the EIC, do not complete Schedule M1WFC. Your First Name and Initial Number of Qualifying Children: Last Name None One Two Your Social Security Number Three or More A — Child 1 B — Child 2 C — Child 3 Child’s First Name and Middle Initial . . . . . . . . . a1 b1 c1 Child’s Last Name . . . . . . . . . . . . . . . . . . . . . . . . . a2 b2 c2 Child’s Social Security Number . . . . . . . . . . . . . . a3 b3 c3 Child’s Date of Birth . . . . . . . . . . . . . . . . . . . . . . . a4 b4 c4 Child’s Relationship to You . . . . . . . . . . . . . . . . . a5 b5 c5 Number of Months Child Lived with you in 2019 (See Instructions) . . . . . . . . . . a6 b6 c6 Check Box if Child is Under Age 24 and a Full-Time Student . . . . . . . . . . . . . . . . . . . a7 b7 c7 Check Box if Child is Permanently and Totally Disabled in Any part of 2019 . . . . . . a8 b8 c8 Round amounts to the nearest whole dollar. 1 2 Enter your total earned income from line 1 of the federal EIC Worksheet A or line 6 of EIC Worksheet B. . . . . . . 1 Using the amount on line 1, your filing status, and the number of qualifying children, find the credit amount using the Working Family Credit table in the Form M1 instructions (If the result is zero, STOP HERE; you do not qualify for this credit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Federal adjusted gross income (from line 1 of Form M1; if less than zero, enter as a negative number) . . . . . . . . 4 If you have: • No qualifying children, is line 3 less than $8,730 ($14,570 if married filing joint)? • One qualifying child, is line 3 less than $22,770 ($28,610 if married filing joint)? • Two qualifying children, is line 3 less than $27,000 ($32,840 if married filing joint)? • Three or more qualifying children, is line 3 less than $27,300 ($33,140 if married filing joint)? Yes. Skip this line and go to line 5 below. No. Using the amount on line 3, your filing status, and the number of qualifying children, find the credit amount using the Working Family Credit Table in the Form M1 instructions . . . . . . . . . . . . . . . . . . . . . . 5 Working family credit amount. • If you answered Yes on line 4, enter the amount from line 2. • If you answered No on line 4, enter the amount from line 2 or line 4, whichever is less . . . . . . . . . . . . . . . . . Full-year residents: Also enter this amount on line 2 of Schedule M1REF. 6 Part-year residents: Multiply line 5 by line 24 of Schedule M1NR. Enter the result here and on line 2 of Schedule M1REF. However, if your Minnesota gross income is less than $12,200, see instructions; enter the result from step 7 of the Worksheet for Line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter the result from step 5 of the Worksheet for Line 6 3 4 5 6 Include this schedule with your Form M1. Enter the number of qualifying children on line 2a of Schedule M1REF. 9995 2019 Schedule M1WFC Instructions Am I eligible? You may be eligible for the Minnesota Working Family Credit if all of the following are true: • You were a full-year or part-year resident of Minnesota in 2019. • You meet the income requirements below based on your filing status and number of qualifying children. • The Internal Revenue Service (IRS) has not restricted you from claiming the federal Earned Income Credit (EIC). Before you can complete Schedule M1WFC, you must complete the appropriate federal EIC Worksheet. Income requirements You may qualify for the Minnesota Working Family Credit if your income is below the limit for your filing status and qualifying children: Number of Qualifying Children Filing Status Income Limit None Married Filing Joint $28,600 Other Than Married Filing Joint $22,700 Married Filing Joint $47,300 Other Than Married Filing Joint $41,500 Married Filing Joint $53,500 Other Than Married Filing Joint $47,600 Married Filing Joint $57,000 Other Than Married Filing Joint $51,200 One Two Three or More Information on Qualifying Children Near the top of Schedule M1WFC, check the box indicating your total number of qualifying children. Enter the requested information for each qualifying child. If you have more than three qualifying children, list only three. Enter the number of months the child lived with you during the year. If the child lived with you in the United States for more than half of the year but less than seven months, enter “7” in the space provided. If the child was born or had died in 2019 and lived in your home for the entire time he or she was alive during the year, enter “12.” Enter the number of qualifying children on line 2a of Schedule M1REF, Refundable Credits. Is there a penalty for fraudulently claiming a refund? Yes. If you file a return that fraudulently claims a credit, you will be assessed a penalty equal to 50 percent of the fraudulently claimed credit. Line Instructions Round amounts to the nearest whole dollar. Line 1 Complete Step 1 through Step 5 in the instructions for Line 18a - Earned Income Credit of federal Form 1040 prior to completing the appropriate EIC Worksheet. Disregard the adjusted gross income limitation for Step 1 and the earned income limitation for Step 5. Line 6 — Part-year residents If you are a part-year resident, you will determine your credit using your percentage of income taxable to Minnesota. If your gross income is less than $12,200, you should have entered zero on line 22 of Schedule M1NR, Nonresidents/Part-Year Residents. To correctly determine your credit, you must complete Schedule M1NR and the Worksheet for Line 6 below. Worksheet for Line 6 (for part-year residents whose Minnesota gross income is less than $12,200) Note: If you are a full-year nonresident, do not use this worksheet. You are not eligible for this credit. 1 Line 11, column B, of Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Line 21, column B, of Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Subtract step 2 from step 1. (If result is zero or less, STOP HERE. You do not qualify for the credit) . . . . . . . . . . . . . . . . . . . 4 Line 23 of Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Divide step 3 by step 4 and enter the result as a decimal (carry to five decimal places). If step 3 is more than step 4, enter 1.0. Enter the result on the space provided on line 6 of Schedule M1WFC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Amount from line 5 of Schedule M1WFC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Multiply step 5 by step 6. Enter the result on line 6 of Schedule M1WFC and on line 2 of Schedule M1REF . . . . . . . . . . . . . .
Extracted from PDF file 2019-minnesota-form-m1wfc.pdf, last modified July 2019

More about the Minnesota Form M1WFC Individual Income Tax Tax Credit TY 2019

We last updated the Working Family Credit in February 2020, so this is the latest version of Form M1WFC, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form M1WFC directly from TaxFormFinder. You can print other Minnesota tax forms here.

Other Minnesota Individual Income Tax Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form M1PR Instructions Homestead Credit Refund and Renter’s Property Tax Refund Instruction Booklet
Form M1PR Homestead Credit Refund (for Homeowners) and Renters Property Tax Refund
Form M1 Individual Income Tax Return
Form M1M Income Additions and Subtractions (onscreen version)
Form M1W Minnesota Income Tax Withheld (onscreen version)

Download all MN tax forms View all 96 Minnesota Income Tax Forms


Form Sources:

Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form M1WFC from the Department of Revenue in February 2020.

Show Sources >

Form M1WFC is a Minnesota 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 Minnesota Form M1WFC

We have a total of nine past-year versions of Form M1WFC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form M1WFC

2019 M1WFC, Minnesota Working Family Credit

2018 Form M1WFC

2018 M1WFC, Minnesota Working Family Credit

2017 Form M1WFC

2017 M1WFC, Minnesota Working Family Credit

2016 Form M1WFC

2016 M1WFC, Minnesota Working Family Credit

2015 Form M1WFC

2011 M1WFC, Minnesota Working Family Credit

Working Family Credit 2014 Form M1WFC

m1wfc_14.indd

2013 Minnesota Working Family Credit (onscreen version) 2013 Form M1WFC

2012 M1WFC, Minnesota Working Family Credit

2012 Form M1WFC

2012 M1WFC, Minnesota Working Family Credit

2011 Form M1WFC

2011 M1WFC, Minnesota Working Family Credit


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