If you qualify for the West Virginia Motor Vehicle Property Tax Adjustment Credit, you'll enter the information from your MV-1 letter in the Credits section of your West Virginia return.
This credit allows eligible taxpayers to receive a credit for timely paid personal property taxes on qualified motor vehicles. If the credit is more than your West Virginia income tax liability, the excess may be refunded to you.
Who Qualifies for the Credit?
You may qualify if:
- You own a qualified motor vehicle.
- You timely paid the personal property tax on that vehicle.
- You received an MV-1 letter showing the amount available to claim.
West Virginia specifically provides a refundable credit for timely paid personal property taxes on qualified motor vehicles.
How to Enter the MV-1 in the Software
Follow these steps:
- Go to State.
- Select the 3 dots to the right for Edit
- Choose Credits.
- Select Motor Vehicle Property Credit.
- Enter the information from your MV-1 letter.
What Happens After I Enter It?
The software will apply the eligible Motor Vehicle Property Tax Adjustment Credit to your West Virginia return.
If the credit exceeds your West Virginia income tax, the remaining amount may be refunded to you.
Important Reminder
Keep your MV-1 letter and any supporting property tax documentation with your records. West Virginia may require supporting documents for property tax credits claimed on the return.
Additional Information
See TSD 454 for more information.