Question

Vermont Homestead Declaration (50/50 ownership)

Forum|Forum|1 year ago
March 31, 2025
1 reply
0 views

I own my home 50/50 with my domestic partner. We are not married and file our taxes separately. How within TurboTax can I reflect 50/50 ownership of our home for the Vermont homestead declaration?

J

JamesG1

You should prorate the housesite value and housesite property tax.

The Instructions for Vermont Homestead Declaration and Property Tax Credit states:

BOTH OWNERS OCCUPY THE BUILDING AS THEIR PRINCIPAL RESIDENCE, the eligible housesite education property tax is the tax on the portion owned by each homeowner. If the town issues a property tax bill to each homeowner for his or her portion of the homestead, use the housesite value, housesite property tax and 100% ownership interest. If the property tax bill is for the total property, prorate the housesite value and housesite property tax.

The Homestead Declaration and Property Tax Credit Claim (HS-122) may be completed and automatically included with your tax return. It also may be printed out and submitted by mail.