Tax professionals

Beginning with rent paid in 2024, renters now claim a credit on Schedule M1RENT of Form M1 instead of filing Form M1PR. Benefits for renters include:


* Receive their rent credit earlier in the year
* Do not have to file a separate return
* Non-taxable income is not added into household income
* Business use of their home is not factored into rent credit calculation
* Have longer than two years to file for Renter’s Credit

*Talk to Your Clients*

Talk with your clients to help them better understand their Renter’s Credit is now part of their individual income tax refund and not a separate refund later in the year. We attached a note [ [link removed] ] you can include with a copy of your client’s tax return to help you explain when they will receive their Rent’s Credit. We also have other resources [ [link removed] ] to help you communicate this change to your clients.

*Rent Paid Affidavit*

If your client cannot get a CRP from their property owner or managing agent, they can call us to request a Rent Paid Affidavit (RPA) beginning February 1, 2025. If your software allows attachments, you can attach the RPA to Form M1 before electronically filing the return. If your software does not allow attachments, you must file on paper and include the appropriate schedules.  

*Questions?*

Contact us.

*If you*



*Then*



Need help with your clients’ accounts and have power of attorney on file with us



Contact the appropriate tax division [ [link removed] ]



Have questions about tax law changes



Email our Tax Law Changes Team <[email protected]>



Have general questions, need time-sensitive assistance, or have feedback or an idea for a tax pro tip



Email our Tax Pro Outreach Team <[email protected]>, or call 651-556-6606



 

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