British Columbia renter's tax credit says value is zero

[SarahKamil]

Hi there, I'm trying to claim the new BC renter's tax credit. Under "British Columbia Tax Credits" I check the checkbox "NEW! BC renter's tax credit". Then I hit continue and fill out my renting info like address, rent paid etc., hit continue but then in the "British Columbia tax and credits summary" it says "British Columbia renter's tax credit: 0.00". Why is that and how do I fix it? 

And second question while I'm here, there seems to be conflicting information on whether rent paid refers to monthly or yearly rent. Which one is it? Thank you!

[TurboTaxGinette]

I have just entered the credit on a return and it does show up on line 47900 as seen in the image below on the Detailed Tax Summary. You enter the total rent you paid in the year or months you lived there, i.e.: 12 x $1000. = $12,000 to be entered   for 12 months.

Starting in the 2023 tax year, a renter's tax credit based on annual income has been introduced. For 2023 this tax credit will give $400 to low- and moderate-income renter individuals and families with an adjusted income of $60,000 or less. Individuals and families with an adjusted income greater than $60,000 and less than $80,000 may receive a reduced amount.

Thank you for choosing TurboTax.

[SarahKamil]

Hi there, thanks so much for the fast reply! Unfortunately on line 47900 it just says 0 for me. I'm not sure why?

[TurboTaxGinette]

Is your income higher than mentioned above? In order to help you with this situation, we believe your best option is to contact our telephone support team for further assistance, as they have the option to view your screen to help resolve the issue. To contact them, please follow this link: Contact Us. 

​​​​​​​Thank you for choosing TurboTax.

[SarahKamil]

I definitely meet the salary requirements but my partner whom I live with doesn't. So maybe that's it? But yeah I'll give y'all a call at that page you linked. Thank you!!

[TurboTaxGinette]

Yes, the credit is per family therefore if both you and your partner together surpass the limit, you will not be eligible for the credit as seen here: "to low- and moderate-income renter individuals and families with an adjusted income of $60,000 or less"

Thank you for choosing TurboTax.

[SarahKamil]

I just wanted to update this thread in case anyone runs into the same issue and finds this thread:

• I wasn't able to resolve this.
• The telephone line is super unhelpful and wouldn't let me speak to an actual person. Since the renter's tax credit is so new I'm assuming the bot just doesn't know anything about it and just has more general info but not the specific info I was looking for.
• I'm assuming our combined family income was too high for me to claim the renter's tax credit but I don't know. Would be nice for the web developers/UI/UX designers of turbotax to give the user some feedback as they're filling out their tax return such as "You couldn't claim the renter's tax credit due to x reason."

[TurboTaxGinette]

Not sure if you are referring to me as a bot but I can assure you that I am a person 🙂  and yes in your case it seems to have been an ineligibility due to the total income between you and your partner. Once I realized there was two incomes to include for the credit the answer became clearer as the information supplied was that your income was below the eligible amount without the mention of a second income. Thank you for your update and feedback, we value your opinion and will share this information with the proper TurboTax team.

Thank you for choosing TurboTax.

[SarahKamil]

Hi there, I'm so sorry! In no way did I mean to imply that you're not a person! I meant when I was calling the phone number from the contact page and on the phone that was just a bot. I'm super grateful for your help on here and know that tax season is so busy and the fact that you responded so quickly I appreciate so much! I should have mentioned that in my post! Thank you!!❤️

[aronda]

Hi, 

I can not find the B.C. renter's tax credit form in Turbotax. Could you please guide me?

Thank you in advance