Homestead Flashcards
In some circumstances with married filing jointly, one spouse’s age or circumstances may qualify for Homestead while the other spouses age or circumstance does not. In these cases, it’s very important that the first person listed on the tax return called,
“Taxpayer” be the spouse that will qualify.
Homestead uses the “Taxpayer’s” vs “Spouse” info for determining if they qualify. How can you prevent disqualification due to the wrong spouse listed as “Taxpayer”?
1) when going through intake form make note of
a) do they own their own home
b) if they own their own home, how old are they? Age is a qualifier for all three programs.
c) Disability is also a qualifier for Homestead and SVR which can override age
d) if they are returning customers and they received Homestead in the past, most likely everything is set up just right so it shouldn’t be a problem.
Generally, ALL household income is counted when determining household income for Homestead. Name two types of Household income that doesn’t count.
Income from a minor in the household unless the house is titled in their name.
Disability income
Note: be sure to include in the income any Earned Income Credit that was received in 2024 from 2023 taxes.
Social Security that began prior to retirement (SSDI) is due to disability and needs to be listed as income but then excluded on the Homestead form.
Likewise, SSI is for low income folks which is included unless it is related to disability.
