Education

You may not qualify for the full 20%.  Check that you have a tax liability to handle the full credit along with the rules. The rules from IN GOV are:

Beginning with the 2023 tax year, the amount of the credit is the lesser of the following:

• 20% of the amount of all contributions the taxpayer makes to an account(s) of the Indiana CollegeChoice 529 Education Savings Plan during the taxable year, including those designated for K-12 tuition; Indiana Department of Revenue • Income Tax Information Bulletin #986

• the amount of the taxpayer’s adjusted gross income tax liability for the taxable year

reduced by the amount of credits allowed under IC 6-3-1 through IC 6-3-7; or

• $1,500 for single individuals and married individuals filing a joint return.

•  This is $750 for married individuals filing a separate return.
• In the case of a married individual filing a separate return, the credit is permitted only for that individual’s contributions. The other spouse’s contributions may not be claimed by the separately-filing individual.

Any taxpayer who makes a contribution to an Indiana CollegeChoice 529 Education Savings Plan is eligible for the tax credit even if the taxpayer is not the owner of the account. 

@tdejong