KatrinaB48
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The maximum amount of credit a taxpayer can receive for college choice contributions is $1,000 (20% of $5,000). However, the amount of credit received is limited to the lesser of:

 

  1. 20% of the amount of all contributions made to all Indiana College Choice 529 plans.
  2. The amount of the taxpayer's adjusted gross income tax liability for the tax year. (This does not include your county tax liability.)
  3. $1,000

Your credit is being limited to the amount of your state tax liabilityPlease view the college choice 529 bulletin page for more information about this rule.

 

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