If a taxpayer contributes to an Indiana College Choice 529 plan, they may be eligible to take a credit of up to 20% of their contribution amount on their Indiana tax return.
A credit of up to $1,000 is available for contributions made to the plan ($500 for MFS filing status).
Desktop - To enter the contribution in the Desktop program, from the main menu of the Indiana return, select:
- Total Credits
- Offset Credits
- Other Credits
- Education Savings Plan Credit (Schedule IN-529)
- Contributions - Select New, specify if the taxpayer owns the account, enter the account number, and enter the contributions amounts in the fields provided.
Additional Information: