Generating individual MA Schedule CB, Circuit Breaker Credit in Lacerte

Who qualifies for the Circuit Breaker Credit?

The following qualifications must be met to generate the MA Schedule CB:

• The taxpayer must be over 65 years old.
• The taxpayer must meet the income limitation.
  • This is $61,000 for single, $76,000 for Head of Household and $92,000 for Married Filing Jointly, who spend more than 10% of their total MA income on taxes and utilities.
  • If the taxpayer is a renter, 25% of their annual MA rent must exceed 10% of their total MA income for the tax year.
• The assessed value of the real estate as of January 1, 2020, before residential exemptions but after abatements, can't exceed $848,000.

Refer to this Massachusetts Department of Revenue resource for more information.

How do I generate Schedule CB in Lacerte?

Use the applicable set of instructions below to generate Schedule CB for a homeowner or a renter.

Follow these steps to generate MA Schedule CB for homeowners:

1. Go to Screen 53, Other Credits.
2. Select Massachusetts Circuit Breaker Credit from the left navigation panel.
3. Click on the 1 from the lower-left navigation panel under the Residence section.
4. Complete any applicable fields in the Homeowner Information section.

Follow these steps to generate MA Schedule CB for renters:

1. Go to Screen 51, Modifications.
2. Select Massachusetts Rental Deduction from the left navigation panel.
3. Locate the Landlord Information subsection and enter the following fields:
   • Name
   • Street
   • City
   • State
   • ZIP code
4. Locate the Occupancy Information subsection and enter the following fields:
   • Rents paid in 2021
   • Date occupied
   • Date vacated