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Massachusetts Circuit Breaker Credit
Extracted from PDF file 2023-massachusetts-schedule-cb.pdf, last modified November 2023Circuit Breaker Credit
FIRST NAME M.I. LAST NAME SOCIAL SECURITY NUMBER You, or your spouse if married filing jointly, must be at least 65 years of age before January 1, 2024 to qualify for this credit. Also, you must file as single, married filing jointly or head of household to qualify for this credit. If married filing separately, you do not qualify for this credit. Schedule CB Circuit Breaker Credit. Enclose with Form 1 or Form 1-NR/PY. Do not cut or separate these schedules. ADDRESS OF PRINCIPAL RESIDENCE IN MASSACHUSETTS (DO NOT ENTER PO BOX) 1 Living quarters status during 2023: Select one only. Note: If you moved during the year, see reverse. CITY/TOWN 2023 STATE ZIP Homeowner If homeowner, fill in if multi-use or multi-family property (see instructions) Renter (if you received any federal and/or state rent subsidy, or you rent from a tax-exempt entity, you do not qualify for the Circuit Breaker Credit; see instructions) 2 Homeowners only, enter assessed value of principal residence as of January 1, 2023. If over $1,025,000, you do not qualify for this credit. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 INCOME CALCULATION 0 0 3 Massachusetts adjusted gross income (from line 20 of Schedule CB, line 3 worksheet on reverse). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 0 0 4 Full amount of Social Security benefits received before Medicare premiums (from Form 1099). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 0 0 5 Pensions/annuities/IRA/Keogh distributions not taxed on your Massachusetts tax return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 0 0 6 Miscellaneous income, including cash public assistance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 0 0 7 Massachusetts total income. Add lines 3 through 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 0 0 8 Combine Form 1, lines 2b through 2d or Form 1-NR/PY, lines 4b through 4d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 0 0 9 Qualifying income. Subtract line 8 from line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 0 0 You do not qualify for the Circuit Breaker Credit if you are filing as “Single,” and line 9 is greater than $69,000; or you are filing as “Head of household,” and line 9 is greater than $86,000; or you are filing as “Married filing jointly,” and line 9 is greater than $103,000. CREDIT CALCULATION. If you filled in “Homeowner” in line 1, complete lines 10–17; if “Renter,” skip to line 18. 10 Real estate taxes paid in calendar year 2023 for your principal residence (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 0 0 11 Adjustments to real estate taxes (from line 4 of Schedule CB, line 11 worksheet on reverse). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 0 0 12 Subtract line 11 from line 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 0 0 13 Enter 50% (.50) of water and sewer use charges paid in 2023. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 0 0 14 Add lines 12 and 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 0 0 15 Income threshold. Multiply line 9 by 10% (.10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 0 0 16 Subtract line 15 from line 14. If line 15 is equal to or greater than line 14, you do not qualify for this credit. . . . . . . . . . . . . . . . . . . . . . . . . 16 0 0 17 Enter the lesser of line 16 or $2,590 here and on Form 1, line 44 or Form 1-NR/PY, line 48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 0 0 18 Enter total amount of rent paid for your principal residence in 2023: a. 0 0 ÷ 4 =. . . . . . . . . . . . . . . . . . . . . . . . . 18 0 0 Landlord’s name and address_______________________________________________________________________ 19 Income threshold. Multiply line 9 by 10% (.10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 0 0 20 Subtract line 19 from line 18. If line 19 is equal to or greater than line 18, you do not qualify for this credit. . . . . . . . . . . . . . . . . . . . . . . . . 20 0 0 21 Enter the lesser of line 20 or $2,590 here and on Form 1, line 44 or Form 1-NR/PY, line 48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 0 0 Schedule CB Worksheets Part 3. Complete only if you have long-term capital gains or capital gain distributions. Otherwise, enter 0 on line 18 and go to Part 4. Schedule CB, Line 3 — Massachusetts Income Worksheet 12. Enter any gains (not including any losses) included in U.S. Schedule D, lines 8a and 8b, col. h . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. Enter any gains (not including any losses) included in U.S. Schedule D, line 9, col. h . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. Enter any gains (not including any losses) included in U.S. Schedule D, line 10, col. h . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15. Enter any gains (not including any losses) included in U.S. Schedule D, line 11, col. h . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. Enter any gains (not including any losses) included in U.S. Schedule D, line 12, col. h . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. Enter any gains included in U.S. Schedule D, line 13, col. h. If U.S. Schedule D not filed, enter the amount from U.S. Form 1040, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18. Add lines 12 through 17 . . . . . . . . . . . . . . . . . . . . . . . . . Part 1. Complete only if you only have 5.0% income reported on Form 1, line 10 or Form 1-NR/PY, line 12 or partnership, trust or S corporation income not reported on Form 1 or Form 1-NR/PY. Otherwise, enter 0 on line 6 and go to Part 2. Note: When calculating income for the Circuit Breaker Credit, do not exclude any amount on Schedule Y, line 9 that represents a deduction for unemployment compensation. 1. Enter your total 5.0% income from Form 1, line 10 or Form 1-NR/PY, line 12. Not less than 0* . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. Enter the total of Schedule Y, lines 1 through 10 and line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. Subtract line 2 from line 1. Not less than 0. . . . . . . . . . . . 4. Enter total Massachusetts bank interest or the interest exemption amount, whichever is smaller, from Form 1, line 5a or line 5b or Form 1-NR/PY, line 7a or line 7b ........................................ 5. Enter any income from a partnership, trust or S corporation not reported on Form 1 or Form 1-NR/PY . . . . . . . . . . . . . . . . . . . . . . . . . Note: If Form 1, line 10 or Form 1-NR/PY, line 12 is a loss, do not complete line 4 above. Instead, combine Form 1, line 10 or Form 1-NR/PY, line 12 with the smaller amount of total Massachusetts bank interest or the interest exemption amount. Enter the result in line 4 above, unless the result is a loss. If the result is a loss, enter 0. 6. Add lines 3 through 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part 2. Complete only if you have interest income (including tax-exempt interest) other than from Massachusetts banks, dividend income, shortterm capital gains, long-term gains on collectibles and installment sales. Otherwise, enter 0 on line 11 and go to Part 3. 7. Enter the amount from Schedule B, line 9. If there is no entry in Schedule B, line 9, enter the amount from Form 1, line 20 or Form 1-NR/PY, line 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. Enter the amount from Schedule B, line 6. . . . . . . . . . . . . 9. Add lines 7 and 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. Enter the amount from Schedule B, line 15 . . . . . . . . . . 11. Add lines 9 and 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part 4. Massachusetts adjusted gross income. 19. Part-year residents, enter any income earned while a nonresident not included in lines 1 through 18 above. Not less than 0. . . . . . 20. Add lines 6, 11, 18 and 19. Enter the result here and on Schedule CB, line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *Add back any Abandoned Building Renovation deduction claimed on Schedule(s) C and/or E. Schedule CB, Line 11 — Adjustments to Real Estate Taxes Paid Worksheet 1. Enter the amount of any real estate tax abatement, including senior work program, or exemption received in 2023. Do not exclude amounts if they were already reflected on your tax bill and you did not pay them. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. Enter any interest amount paid due to late real estate tax payments in 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. Enter the amount of any betterment or special assessment paid in 2023. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. Add lines 1 through 3. Enter result here and on Schedule CB, line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Note: If you moved during the year you may have to complete separate computations for each residence that would qualify for the credit. On Schedule CB you should complete separate computations for each residence for lines 10 through 14 and/or line 18. The income threshold (line 15 or 19) should be subtracted from the total of these computations to determine if you qualify for the credit.
Schedule CB
More about the Massachusetts Schedule CB Individual Income Tax Tax Credit TY 2023
You, or your spouse if married filing jointly, must be at least 65 years of age before January 1, 2018 to qualify for this credit. Also, you must file as single, married filing jointly or head of household to qualify for this credit. If married filing separately, you do not qualify for this credit.
We last updated the Circuit Breaker Credit in January 2024, so this is the latest version of Schedule CB, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule CB directly from TaxFormFinder. You can print other Massachusetts tax forms here.
Other Massachusetts Individual Income Tax Forms:
TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 1 | Resident Income Tax Return |
| Form 1-NR/PY | Nonresident or Part-Year Resident Income Tax Return |
| Form 1-ES Instructions | Estimated Income Tax Forms & Instructions |
| Form M-4868 | Application for Automatic Six-Month Extension of Time to File Massachusetts Income Tax Return |
| Form 1 Instructions | Individual Income Tax Instructions |
View all 127 Massachusetts Income Tax Forms
Form Sources:
Massachusetts usually releases forms for the current tax year between January and April. We last updated Massachusetts Schedule CB from the Department of Revenue in January 2024.
Schedule CB is a Massachusetts Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Massachusetts Schedule CB
We have a total of twelve past-year versions of Schedule CB in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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