Compardo, Wienstroer & Janes at Moneta
If you resided in Missouri and incurred any damage where you paid part of your insurance deductible during a qualifying 2025 disaster to your personal residence, you could be eligible for a 2025 tax credit of up to $5,000.
Eligible Applicants
- You incurred an insurance deductible during the calendar year 2025 for damage to your primary residence (homestead).
- The damage was caused by a disaster for which the Governor of Missouri requested a presidential disaster declaration in 2025. See Presidential Disaster Declaration section below.
- The homestead was used for all tax and legal purposes.
- You lived at your residence for more than six months prior to the disaster.
- The insurance company is licensed in the state of Missouri.
Procedures to Claim the Credit
The individual taxpayer claiming the tax credit shall file a signed affidavit Form 5926 Homestead Disaster Tax Credit Affidavit with their individual income tax return, verifying:
- Address including county of residence that suffered damage
- Date the disaster occurred
- Evidence the insurance deductible was incurred as a result of a claim paid under a homeowner’s or renter’s insurance policy issued by an insurance company licensed in Missouri.
The taxpayer should also attach the document provided by the insurance company and Form MO-TC Miscellaneous Income Tax Credits.
Other Important Info
Non-Refundable Credit
The tax credit is non-refundable but can be carried forward up to 29 years or can be transferred, sold or assigned
Funding Limits
The state has capped the number of credits that can be redeemed for each fiscal year:
Up to $90M for fiscal year ending June 30, 2026
Up to $45M per year from July 1, 2026 – June 30, 2055
Eligible Storms
- March 14 – 15 Storms: FEMA Individual and Public Assistance
- March 30 – April 8 Storms: FEMA Public Assistance and FEMA Individual Assistance
- April 29 Storms: FEMA Public Assistance and Small Business Administration Assistance
- May 16 Storms: FEMA Individual and Public Assistance
- May 23 – 26 Storms: Governor Kehoe Requests Federal Disaster Declarations for 2 Storm Systems that Resulted in Damage in Southwest Missouri
To explore how you might benefit from the Missouri Homestead Disaster Tax Credit, email your advisor or our team at thecompardoteam@monetagroup.com.
Sources:
Missouri Department of Public Safety
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