Below are credits that are available on your Wisconsin return:
Armed Forces Credit: This credit is available if you are a member of the armed forces and were on active duty, received military pay in 2019 or of the military pay was for services performed while you were stationed outside of the U.S. Maximum credit is $300 per qualified taxpayer.
School Property Tax Credit: Available if you paid rent during 2019 for living quarters that was used as your primary residence OR you paid property taxes on your home.
Homestead Tax Credit: This credit is designed to provide relief to homeowners and renters. For more information pertaining to this credit, click here.
Itemized Deduction Credit: If the total of your itemized deductions exceed your WI standard deduction, you can claim the itemized deduction credit.
Credit for Taxes Paid to Another State: If you pay taxes to Wisconsin and another state from the same income, you may be able to claim a credit for the taxes you paid to the other state.
Farmland Preservation Credit: This is a credit for Wisconsin residents who own farmland in Wisconsin. However, if you claim the homestead credit or the veterans and surviving spouse credit, you cannot claim the farmland preservation credit.
Veterans and Surviving Spouse Credit: You can claim this credit if you are an eligible unremarried surviving spouse or an eligible veteran. The credit is equal to the property taxes paid during the year. You cannot take this credit if you are already claiming the Farmland Preservation Credit, the School Property Tax Credit or the Homestead Credit.
Working Families Tax Credit: If you are married filing a separate return, are under age 65, and your Wisconsin income is less than $10,000, you may claim the working families tax credit. This credit is automatically calculated by the program.
Other Credits or Subtractions are listed below:
- College Savings Accounts (Sch CS)
- Carryforward of Unused Credits (Sch CF)
- Private School Tuition (Sch PS)
- Manufacturing Credit (MA-M)
- Agricultural Credit (Sch MA-A)
- Business Development Credit (Sch BD)
- Technology Zone Credit (Sch TC)
- Low-Income Housing Credit (Sch LI)
For additional information regarding these credits, click here.