Printable 2020 Indiana Form IN-529 (Indiana's CollegeChoice 529 Education Savings Plan Credit)-2026

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  1. Click ‘Get Form’ to open the Printable 2020 Indiana Form IN-529 in our editor.
  2. Begin by entering your name(s) as shown on Form IT-40/IT-40PNR and your Social Security Number at the top of the form.
  3. In Column A, check the box if you or your spouse do not own the account for which contributions are being reported.
  4. In Column B, enter the account number for each CollegeChoice 529 plan you contributed to during 2020. Ensure that the format matches the guidelines provided.
  5. For Columns C and D, input the total contributions made for higher education and K-12 education respectively. Make sure to match these amounts with their corresponding account numbers.
  6. Follow through lines 10 to 16 to calculate your allowable credit based on your contributions. Use our platform’s calculation tools for accuracy.

Start filling out your form today using our free online editor!

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If you contribute money to a qualified tuition program, such as a 529 plan or a Coverdell ESA, you will likely receive an IRS Form 1099-Q in each year you make withdrawals to pay school expenses of the beneficiary.
Beginning January 1, 2023, the maximum increases to $1,500 ($750 for married filing separately). Married taxpayers who previously contributed $5,000 annually to their 529 accounts may now choose to contribute $7,500 to receive an additional $500 benefit provided they meet other eligibility requirements.
Qualified withdrawals from a CollegeChoice 529 Plan account are already state and federally tax-exempt. Additionally, Indiana taxpayers who contribute to a CollegeChoice 529 account become eligible for a 20% state income tax credit of up to $1,000 each year on their contributions.

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Any Indiana taxpayer who contributes to a CollegeChoice 529 Plan is eligible to receive the tax credit. For example, grandparents and/or friends often contribute to a childs 529 plan. These contributions mean that the grandparents and/or friends are eligible to receive the credit on their individual contributions.

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