Sound investments and great tax advantages make the Indiana CollegeChoice CD 529 Savings Plan a great choice.
If you are an Indiana taxpayer (resident or non-resident), you are eligible for a State income tax credit for contributions to an account in CollegeChoice CD.* The tax credit is available to an individual filing a single return or a married couple filing a joint return. The amount of the credit is the lesser of the following:
1. Twenty percent (20%) of the amount of the total contributions to CollegeChoice CD during the taxable year by the taxpayer;
2. One thousand dollars ($1,000); or
3. The amount of the taxpayer’s adjusted gross income tax liability for the taxable year reduced by the sum of all other credits allowed.
* This credit may be subject to recapture from the account owner (not the contributor) in certain circumstances, such as a rollover to another state’s qualified tuition program or a non-qualified withdrawal. The credit does not apply to rollovers from another state’s qualified tuition program. See the Disclosure Statement for additional details.