Because Treasury has started issuing the expanded Michigan EITC supplemental check payments for tax year 2022, it is no longer necessary to view or manually update your address. If you moved between last year and now, please be sure your new address is on your 2023 individual income tax return filing.
Are contributions to a First-Time Home Buyer Account tax deductible?
Yes, contributions made by a taxpayer to first-time home buyer account during the tax year may qualify for a deduction from Michigan taxable income to the extent they were not deducted in determining adjusted gross income (AGI). However, the contributions must be netted against qualified withdrawals made in the same year for a total deduction up to $5,000 on a single or married filing separate return or $10,000 on a jointly filed return.