529 contributions in Indiana
Varies
Are 529 Contributions Tax Deductible in Indiana?
Short answer: Yes on your Indiana return: 20% credit up to $1,500 per return (on $7,500 contributed); $750 MFS. Only contributions to the state's own plan count. Nonrefundable; any contributor qualifies; contributions by April 15 may count for prior year; credit recaptured on nonqualified withdrawals.
There's no federal deduction for 529 contributions; growth is tax-free when used for qualified education costs.
Records to keep: Keep receipts, statements, and a note of what each cost was for. Compare itemizing to the 2026 standard deduction ($16,100 single / $32,200 joint) before you claim.
529 contributions in Indiana
Varies
Individuals / Personal Taxes
Yes on your Indiana return: 20% credit up to $1,500 per return (on $7,500 contributed); $750 MFS. Only contributions to the state's own plan count. Nonrefundable; any contributor qualifies; contributions by April 15 may count for prior year; credit recaptured on nonqualified withdrawals.
Business justification
Yes on your Indiana return: 20% credit up to $1,500 per return (on $7,500 contributed); $750 MFS. Only contributions to the state's own plan count. Nonrefundable; any contributor qualifies; contributions by April 15 may count for prior year; credit recaptured on nonqualified withdrawals. There's no federal deduction for 529 contributions; growth is tax-free when used for qualified education costs.
Category
- Personal Tax Deductions