Indiana Tax Breaks Frequently Missed

As an Indiana State Taxpayer, you may qualify for these frequently missed tax breaks:

  • Renters – Indiana allows you to deduct the first $3,000 you paid in rent.
  • Homeowners – Indiana allows you to deduct the first $2,500 in property taxes.
  • Indiana allows a $1,000 deduction for each child who attends a K-12 private school; parochial school; or is home schooled.
  • Indiana allows up to $1,000 credit for contributions to the Indiana College Choice Plan.

Your contributions can be used for K-12 students as well as those in college or vocational schools. The credit equals 20% of your contributions up to a maximum of $1,000.

EXAMPLES:

  • Contribute $400 and receive an $80 credit
  • Contribute $5,000 and receive a $1,000 credit

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