SECTION 5 TAXES and OTHER FORMS DISTRICTS NEED TO - Michigan 2025

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State and local personal property taxes Deductible personal property taxes are those based only on the value of personal property such as a boat or car. The tax must be charged to you on a yearly basis, even if its collected more than once a year or less than once a year.
Enter on line 5c the state and local personal property taxes you paid, but only if the taxes were based on value alone and were imposed on a yearly basis. Example. You paid a yearly fee for the registration of your car. Part of the fee was based on the cars value and part was based on its weight.
Taxpayers who withheld Michigan income tax on a 1099 form (1099- MISC, 1099-NEC, 1099-R, etc.) must report the income and the withholding on the Sales, Use, and Withholding Taxes Annual Return (Form 5081) and send a copy of the 1099 form directly to Treasury.
Line 5 is of Schedule A is divided into 5 sections: Line 5a You write the amount you paid in either your local income taxes or sales taxes. Line 5b This section is for the amount you paid in either real estate taxes or local property taxes. Line 5c This section asks for the amount you in personal property taxes.
Line 5b is for the amount you paid in local property taxes or real estate taxes. Line 5c asks for the amount you paid in personal property taxes. This includes state and local taxes you pay on things like a car, boat, or other person belonging.

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For the 2024 income tax returns, the individual income tax rate for Michigan taxpayers is 4.25 percent, and the personal exemption is $5,600 for each taxpayer and dependent. An additional personal exemption is available if you are the parent of a stillborn child delivered in 2024.
Income tax - The amount of state and local income tax you pay will depend on how much income you earn and the tax rate of the state or locality where you live. Currently, 41 states collect income tax on salary and wages. Personal property tax - You may have to pay taxes based on the value of your personal property.
File with HR Block to get your max refund Form NumberForm Name MI-1040 Individual Income Tax Return MI-1040CR Homestead Property Tax Credit Claim 4884 Pension Schedule 4884 Worksheet Form 4884 Section D Worksheet6 more rows

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