Is this an expense I can report on my Michigan tax return - I currently own a mobile home. I pay property rent monthly to a corporation, in a mobile home community?
Is this an expense I can report on my Michigan tax return - I currently own a mobile home. I pay property rent monthly to a corporation, in a mobile home community?
It depends. According to the MI Department of Revenue (extracted below), if your household income is below $63,700 you may qualify for a MI Homestead Property Tax Credit.
For mobile home park residents return to the "Credits and Taxes" section in the MI state interview. Revisit the "Homestead Tax Credit" topic. In the interview you will be asked about your housing type. You will select "lived in a mobile home park." Follow the prompts from there to enter your rent information.
"Mobile home park residents: may claim $3 per month specific tax up to a maximum of $36 and 23% of the yearly rent amount less the specific tax (maximum $36)."
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I am confused. I don't see an option to tell TurboTax that I live in a mobile home park. Do I select -- Yes, I rented Service Fee Housing, enter my total lot rent paid and number of months and select Resident Member of a Cooperative Housing Corporation? I don't see any other options that will give me a credit. Please advise.