If you use the standard deduction on your federal tax return, you can still benefit from Missouri tax credits. Here’s how:

  1. Determine Eligibility for Missouri Tax Credits: Confirm that you meet the eligibility requirements for the specific Missouri tax credit program you are interested in. Each tax credit program has its own eligibility criteria, so review the guidelines provided by the Missouri Department of Revenue or the specific program administering agency.
  2. Claim the Tax Credit on Your Missouri State Income Tax Return: When filing your Missouri state income tax return, you will have the opportunity to claim any eligible tax credits, even if you take the standard deduction on your federal tax return. The Missouri tax credit will directly reduce your state tax liability, potentially resulting in a lower tax bill or a higher refund.
  3. Complete the Necessary Forms and Documentation: The charity that has the credits will provide you with paperwork that needs to be filled out – Please don’t wait till the last minute. This usually involves completing additional forms or providing documentation to support your claim.
  4. Separate State and Federal Tax Filings: Remember that your state tax return is separate from your federal tax return. Even if you choose to take the standard deduction on your federal return, you can still claim tax credits on your Missouri state tax return if eligible.

It’s important to consult with a tax professional ensure you correctly claim any applicable tax credits and take advantage of all available deductions when filing your Missouri state income tax return. They can provide personalized advice based on your individual tax situation and help maximize your tax benefits.