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mokahend
New Member

I used my 529 to pay for part of my rent. How do I file my Indiana renter's deduction?

I paid August and September rent out of pocket, but used my 529 to pay for October, November, and December's rent. I'm not sure if I should report the money used for rent from my 529 since I did not contribute this year. 

 

Do I report all five month's rent or just the August/September rent? 

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1 Reply
Hal_Al
Level 15

I used my 529 to pay for part of my rent. How do I file my Indiana renter's deduction?

Q. Do I report all five month's rent or just the August/September rent? 

A.  All five months.  It's not relevant (for the state renters credit) where the money came from, if you are otherwise qualified. 

 

A separate question is: Do you need to report the 529 plan distribution?  For the answer to that question, we need more info.  Mainly, were you a half time or more student during Oct & Nov?  What other qualified educational expenses (QEE) do you have and how do you plan to report the QEE (e.g. claim a tuition credit)? What is the school's allowance for attendance for off campus "room" (essentially what to on campus students pay for a dorm room). Off campus Room and Board are qualified expenses, for a 529 distribution. But, you are limited to your actual cost or the school's "allowance for attendance", whichever is less. 

 

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