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Get your taxes done using TurboTax
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:
- 20% of the amount of all contributions made to all Indiana College Choice 529 plans.
- The amount of the taxpayer's adjusted gross income tax liability for the tax year. (This does not include your county tax liability.)
- $1,000
Your credit is being limited to the amount of your state tax liability. Please view the college choice 529 bulletin page for more information about this rule.
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‎January 22, 2020
12:32 PM