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Form 1099-H online Topeka Kansas: What You Should Know
The refund amount is up to a maximum of 3,400.00. To qualify, the taxpayer must have not claimed the homestead exclusion and must file a Kansas Form 1099-Y with the state of Kansas. State of Kansas Homestead Exclusion The term homestead is defined as a residence in an owner occupied structure. The term home is defined as both the property and all items of personal property located or situated on the property. The term residence includes the property which is a part of the residence but is not directly accessed by the owner. This home is often a house trailer. A homestead exemption applies to property which is exempt under the Kansas homestead statutes. To qualify for the homestead exemption, the property must be the homestead of the taxpayer. If the taxpayer is married, the home of the spouse is also exempt from taxation. If the taxpayer or any member of the taxpayer's family receives a qualified distribution from an IRA, 401(k), 403(b)/457 and the taxpayer was required under the applicable law to pay qualified income taxes in Kansas, then that amount would be taxed as qualified income based on the qualified distribution amount paid as a Kansas tax-exempt interest expense. Qualifying Homestead Exemption The property can be a house, a mobile home, a boat, or anything else that was acquired after January 1, 1981, if the property meets the following requirements. It was legally acquired by the taxpayer; is or was: A homestead; or The property is occupied by the taxpayer in his or her home and is used or intended to be used for the taxpayer's residential conduct; and It is more than 50 percent necessary for the maintenance of the residence. If the taxpayer receives a qualified interest in a qualified small business (USB) which was formed in Kansas, he or she is responsible to file a Form K-1, Qualified Small Business Income Tax Return.
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