Do I qualify to take the Indiana's CollegeChoice 529 Education Savings Plan Credit?

If you made contributions to Indiana’s CollegeChoice 529 education savings plan, you may be eligible for a credit. There are many 529 college savings plans but contributions made to this particular plan are eligible for this credit.

You can find more information about this credit by going to www.in.gov.3650.htm and see Income Tax Information Bulletin #98.

What is the Recapture of Indiana’s CollegeChoice 529 Education Savings Plan Credit?

While you are eligible for a credit if you made contributions to this plan, you may have to repay some or all of the previously claimed credit if you made nonqualified withdrawals from this plan.

Withdrawals made for higher education expenses tend to be qualified withdrawals. Other withdrawals may fall under the category of “nonqualified”.

Where to enter 529 contributions within the program? 

You may enter your contributions within your account by following the steps below:

1. State
2. Edit (three dots)
3. Credits
4. Schedule IN-529: Education Savings Plan Credit Menu

Program Entry

The recapture may be entered by following the steps below:

1. State
2. Edit (three dots)
3. Taxes
4. Non-qualifying 529 Recapture - Schedule IN-529N