Form IT-40 (IT-40PNR; State Form 53385) Schedule IN-529 Indiana's Collegechoice 529 Education Savings Plan Credit - Indiana

What Is Form IT-40 (IT-40PNR; State Form 53385) Schedule IN-529?

This is a legal form that was released by the Indiana Department of Revenue - a government authority operating within Indiana.The document is a supplement to Form IT-40, and Form IT-40PNR. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form IT-40?A: Form IT-40 is a tax form used by residents of Indiana to file their state income taxes.

Q: What is IT-40PNR?A: IT-40PNR is a variant of Form IT-40 used by part-year or nonresident individuals to file their Indiana state income taxes.

Q: What is State Form 53385?A: State Form 53385 is the specific form number assigned to Form IT-40PNR Schedule IN-529.

Q: What is Schedule IN-529?A: Schedule IN-529 is a part of Form IT-40PNR that is used to claim Indiana's Collegechoice 529 Education Savings Plan Credit.

Q: What is Indiana's Collegechoice 529 Education Savings Plan Credit?A: Indiana's Collegechoice 529 Education Savings Plan Credit is a tax credit available to Indiana residents who contribute to the state's 529 education savings plan.

Q: What is the purpose of the credit?A: The credit encourages Indiana residents to save for educational expenses by providing a tax incentive for contributions to the Collegechoice 529 plan.

Q: What documentation is needed to claim the credit?A: Taxpayers claiming the credit should refer to Schedule IN-529 for details on the required documentation and instructions on how to calculate the credit.