Form Schedule L Lower Income Long-Term Homeowner Credit

Complete the property owner s information and Sections A Long Term Homeowner Credit Mail this schedule to the Office of Tax and Revenue 1101 Report the federal adjusted gross income of every member The 2012 Schedule L must be filed by December 31 2013 *129990110000* 1Source: U S Department of HUD HUD Program Income Limits available at www huduser org 4th Street SW FL4 Washington DC 20024 A person claiming the credit must own and have had real property taxes imposed on a DC residence in which he/she has lived as a principal residence for at least seven consecu tive years immediately prior to the last day of the tax year Do not le Schedule L if your household income is more than the limit shown in the Section D Household Income table for the number of members of your household B and C District of Columbia Government of the How do you claim the credit? If you are a member of or a shareholder in a housing co operative which is receiving the homestead deduction for your unit ll in the Yes ovals on Lines 1 and 2 Section A If your answer is Yes to Line 3 in Section A contact your housing cooperative s manager to determine the correct entries for Section B Lines 7 and 8 based on your por tion of the real property tax imposed on the entire housing cooperative property Important: Read the instructions before completing this In Section B you must report the federal adjusted gross income of every member of your household including any income not subject to DC income tax To help you complete this calcula tion obtain the federal adjusted gross income gure from all members of the household and total it in Section C Household members are all the people you live with whether or not they are related to you For example if you live in a house where you share the kitchen and bathroom with one or more persons they are household members If you rent out part of your house and share the kitchen and bath with a tenant you must report the tenant s federal adjusted gross income as part of the total household income Keep in your records any documentation given to you by your housing cooperative s manager List the income (the federal adjusted gross income) of each member of your household (attach a continuation sheet if necessary) Lower Income Long Term Homeowner Credit Note: The credit is available only for real property or a unit in a cooperative housing association receiving the homestead deduction There is only one credit allowed per household NOTE: You may not take both this credit and the Historic Hous ing Rehabilitation Credit of your household SCHEDULE L Lower Income schedule Print in CAPITAL letters using black ink Section C Members of your household Section D Household Income Limit Table1 This credit gives you a refund (if you have no outstanding DC government liabilities) from DC individual income tax for certain DC real property taxes imposed Subtract the amount that equals 1 05 of the real property tax imposed for tax year 2011 from the real property tax imposed for tax year 2012 The difference is your potential refund What is the Lower Income Long Term HomeownerCredit? What is total household federal adjusted gross income? When is Schedule L due? Who is eligible?