Article: 50477
Overview
Nebraska offers a special tax credit to qualifying individuals who purchase and reside in a residence located within a designated extremely blighted area. This credit is claimed using Form 1040N-EB, and must be filed with your Nebraska Individual Income Tax Return (Form 1040N).
Who Qualifies for the Credit?
You may qualify if:
- You purchased a single-family residence in a designated extremely blighted area in Nebraska after January 1, 2020.
- The home is your primary residence.
- You have not previously claimed the credit.
- You are claiming the credit within the required period after the purchase.
Note: The credit is nonrefundable and may be carried forward for up to five years if it exceeds your Nebraska income tax liability.
How to Report
- Navigate to the State Taxes section on the left-hand side of the screen.
- Click the link: “I’d like to see the forms I’ve filled out or search for a form.”
- In the dropdown menu, select Nebraska.
- Click on the Credits tab.
- Select 1040N-EB – Purchase of Residence in Designated EB Area Credit to open the screen.
- Enter all required information.
- Click ‘Save‘ once complete.
Additional Resources
For further guidance, see: 2024 Nebraska Form 1040N-EB – Purchase of Residence in Designated Extremely Blighted Area Credit (PDF)