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5 Schedule 5
FTC-1 B
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Form IT-140 FAMILY TAX CREDIT 2023
7 A Family Tax Credit is available to certain individuals or families that may reduce or eliminate their West Virginia personal income tax You may be entitled 7
8 to this credit if you meet certain income limitations and family size. Individuals who file their income tax return with zero exemptions cannot claim the 8
9 credit Persons who pay the federal alternative minimum tax are not eligible to claim this credit In order to determine if you are eligible for this credit, 9
complete the schedule below and attach to Form IT-140. If filing status is married filing separate use Family Tax Credit Table 2.
10 If this schedule is not enclosed with Form IT-140, the credit will be disallowed 10
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13 1 Federal Adjusted Gross Income (enter the amount from line 1 of Form IT-140) 1 .00 13
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15 2. Increasing West Virginia modifications (enter the amount from line 2 of Form IT-140)....................................... 2 .00 15
16 3 Tax-exempt interest reported on federal tax return (enter the amount shown on Federal Form 1040 that is not 16
17 already included on line 2 of Form IT-140) 3 .00 17
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19 4 Add lines 1 through 3 This is your Modified Federal Adjusted Gross Income for the Family Tax Credit 4 .00 19
20 5 Enter the number of exemptions claimed from Form IT-140, sum of boxes a, b, and c (This is your Family Size 20
21 for the Family Tax Credit) 5 21
22 6. Enter the Family Tax Credit Percentage for your family size AND Modified Federal Adjusted Gross Income level 22
23 from the tables on page 12 If the exemptions on line 5 are greater than 8, use the table for a family size of 8 6 23
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25 7 Enter your income tax due from line 8 of Form IT-140 25
7 .00
26 8 Multiply the amount on line 7 by the percentage shown on line 6 26
27 This is your Family Tax Credit. Enter this amount on line 2 of Form IT-140 RECAP 8 .00 27
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*P40202310A*
63 P40202310A 63
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