Tax Credits

There are many credits available to claim on your Indiana income tax return. The table below lists available credits and a brief description, for more information on each credit, click on the credit name.

Updated January 9, 2018

Credit

Who is eligible?

Additional forms

Adoption Credit

Individuals who claimed an adoption credit on their federal tax return

Worksheet B in IT-40 Booklet

Alternative Fuel Vehicle Manufacturer Credit

Certain individuals who make qualified investments that reduce dependency on foreign oil and reduce pollution

Schedule 6, Schedule G

Certification from Indiana Economic Development Corporation (IEDC) required

Coal Gasification Technology Investment Credit

Certain individuals who make qualified investments in integrated coal gasification power plant or fluidized bed combustion technology

Schedule 6, Schedule G

Certification from IEDC required

CollegeChoice 529 Education Savings Plan Credit

Individuals who make contributions to a CollegeChoice 529 plan

Schedule IN-529

Schedule 6, Schedule G

College Credit

Individuals who donated money or property to an Indiana college or university

Schedule CC-40

Schedule 6, Schedule G

Community Revitalization Enhancement District Credit

A state and local income tax liability credit is available for a qualified investment made within a community revitalization enhancement district

Schedule 6, Schedule G

Credits for Taxes Paid to Other States

Certain individuals who receive income from other states.

Schedule 6, Schedule G

Group A Worksheet IT-40 booklet/IT-40PNR Federal form 1116; other state tax return

Economic Development for a Growing Economy credit (EDGE)

Qualifying business income that fosters job creation or retention in Indiana

Schedule IN-EDGE or Schedule IN-EDGE-R

Schedule 6, Schedule G

Enterprise Zone Credits

Several credits for businesses in designated enterprise zones.

Schedule EZ

Schedule 6, Schedule G

Headquarters Relocation Credit

A business with an annual worldwide revenue of $100 million and at least 75 employees that relocates corporate headquarters to Indiana

Schedule 6, Schedule G

Hoosier Business Investment Credit

Qualified investments of the purchase of new qualified equipment

Schedule IN-OCC

Schedule 6, Schedule G

Indiana's earned income credit

If eligible on federal return you may be eligible for a state credit

Schedule IN-EIC

Schedule 6, Schedule G

Indiana Research Expense Credit

Qualifying research and experimental expenses paid in carrying on trade or business in Indiana.

IT-20REC

Schedule 6, Schedule G

Indiana State and County Tax Withholding Credits

Anyone with Indiana and/or county withholding taxes

Schedule 5, Schedule F

Individual Development Account Credit

Qualified contributions to a community development corporation participating in an IDA program

Schedule 6, Schedule G

Industrial Recovery Credit

Qualified investment in a vacant industrial facility

Schedule 6, Schedule G

Lake County (Indiana) Residential Income Tax credit

Anyone who paid property taxes in Lake County Indiana with an Indiana adjusted gross income less than $18,600 that does not claim a residential property tax deduction

Complete Worksheets A & B in IT-40 Booklet or IT-40PNR Booklet

Schedule 5, Schedule F

Neighborhood Assistance Credit

Certain individuals who made a contribution or engaged in activities to upgrade areas in Indiana

Schedule 6, Schedule G

Public School Educator Expense Credits

Anyone who is an eligible educator working for an Indiana school corporation, on qualified expenses for classroom supplies

Schedule 6, Schedule G

 

Residential Historic Rehabilitation Credit

Certain individuals who repairs or rehabilitates a residential property listed on the Indiana Register of Historic Sites and Structures, is at least 50 years old and is your primary residence

Schedule 6, Schedule G

School Scholarship Credit

Certain individuals who donate to certain scholarship-granting organizations.

Schedule IN-OCC

Schedule 6, Schedule G

Unified Tax Credit for the Elderly

Several requirements for anyone 65 or older at the end of the tax year

SC-40

Schedule 5, Schedule F

Venture Capital Investment Credit

Certain individuals that provide qualified investment capital to a qualified Indiana business

Schedule 6, Schedule G

Certification from the IEDC

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