We made $3,000.00 contribution to Indiana 529 Savings Plan for 6 grandchildren but Turbo Tax indicated this resulted in tax credit of only $600.00. Instructions said would get up to $1,000. Why didn't Turbo Tax give us the $1,000.00?
A 20% tax credit on up to $5,000 per year in contributions to an Indiana 529 plan can be claimed against Indiana income tax (maximum yearly credit is $1,000).
20% of $3000 is $600. If you'd contributed $5000 or more, you'd hit the $1000 limit.
A 20% tax credit on up to $5,000 per year in contributions to an Indiana 529 plan can be claimed against Indiana income tax (maximum yearly credit is $1,000).
20% of $3000 is $600. If you'd contributed $5000 or more, you'd hit the $1000 limit.
We provide you with a way to opt-out of advertising activities on our websites
We leverage outside service providers who assist us with our marketing and advertising activities. Note: by opting-out of this tracking, you may still see Intuit advertisements, but they may not be tailored to your interests.
Privacy Settings
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Sign In
