Vermont 2010: Property Tax Adjustment Claims and Rental Rebate Credits
Vermont taxpayers may claim a Renter’s Rebate credit on their state tax return and/or file a Property Tax Adjustment claim. Both the credit and the adjustment claimed are based on household income.
Certain Vermont taxpayers with business income may have an incorrect Renter’s Rebate credit on their Vermont tax return and/or filed an incorrect Property Tax Adjustment claim.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if ALL of the following are true:
- You filed your Vermont tax return prior to February 12, 2011 AND
- Your federal tax return included a "One-half of self-employment tax deduction" (see Form 1040, line 27) AND
- You were eligible for either the Vermont Renter’s Rebate credit (See Form IN-111, line 31d) and/or filed the Vermont Property Tax Adjustment claim (Form HS-145.)
If you are affected, you may have overpaid your state tax and/or your Property Tax Adjustment claim may be incorrect. You will need to amend your state tax return.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the Vermont: Renter’s Rebate/ Property Tax Adjustment.