Renters credit in Hawaii
Varies
Can Renters Get a Tax Break in Hawaii?
Short answer: Yes: Hawaii offers the Credit for Low-Income Household Renters. Refundable credit of $50 per qualified exemption (doubled for those 65+) for lower-income renters, claimed on Schedule X with Form N-11 or N-15. AGI under $30,000; more than $1,000 in qualifying rent paid; Hawaii resident present more than nine months of the year; cannot be claimed as someone's dependent.
Utilities, parking, ground rent, and rent paid with government subsidies don't count toward the $1,000 minimum. The rental must not be exempt from real property tax. Rent on your own home isn't deductible on your federal return; the exceptions are a home office used for your business or renting out part of the place you rent.
Records to keep: Keep your lease, rent receipts or a landlord rent certificate, and proof of household income. Check your state's current-year form and deadline before you apply.
Renters credit in Hawaii
Varies
Individuals / Personal Taxes
Yes: Hawaii offers the Credit for Low-Income Household Renters. Refundable credit of $50 per qualified exemption (doubled for those 65+) for lower-income renters, claimed on Schedule X with Form N-11 or N-15. AGI under $30,000; more than $1,000 in qualifying rent paid; Hawaii resident present more than nine months of the year; cannot be claimed as someone's dependent.
Business justification
Yes: Hawaii offers the Credit for Low-Income Household Renters. Refundable credit of $50 per qualified exemption (doubled for those 65+) for lower-income renters, claimed on Schedule X with Form N-11 or N-15. AGI under $30,000; more than $1,000 in qualifying rent paid; Hawaii resident present more than nine months of the year; cannot be claimed as someone's dependent. Utilities, parking, ground rent, and rent paid with government subsidies don't count toward the $1,000 minimum. The rental must not be exempt from real property tax. Rent on your own home isn't deductible on your federal return; the exceptions are a home office used for your business or renting out part of the place you rent.
Category
- Personal Tax Deductions