Indiana 529 Contribution Limits 2025 Income. 2025 Hsa Contribution Limits Family Carrie W. Kline The credit applies to contributions made for taxable years beginning after Dec Additionally, Indiana taxpayers who contribute to an Indiana529 account may be eligible for a 20% state income tax credit of up to $1,500 each year ($750 for married filing separately) on their contributions.
Indiana 529 Plan Rules And College Savings Options from thecollegeinvestor.com
These tax-advantaged accounts have high contribution limits that allow you to stash away savings for higher education If you claim a 2024 credit for a 2025 contribution, you cannot claim the credit on your 2025 return for the same contribution
Indiana 529 Plan Rules And College Savings Options
Introduction The purpose of this bulletin is to provide guidance concerning the Indiana income tax credit for contributions to the Indiana529 Savings Plan (formerly the Indiana CollegeChoice 529 Savings Plan) If you claim a 2024 credit for a 2025 contribution, you cannot claim the credit on your 2025 return for the same contribution Here's a rundown of the current state-by-state contribution limits, and what you need to know about things like gift taxes and state tax deductions
Indiana 529 Plan Update — Aurora Financial Strategies. What is the Indiana 529 plan? CollegeChoice 529 offers: As of 2025, up to $19,000 per donor per beneficiary ($18,000 in 2024) qualifies for the annual gift tax exclusion
Indiana 529 Plan Rules And College Savings Options. Please note: Roth rollovers are deemed a non-qualified expense for the purposes of the Indiana state tax credit and are subject to tax credit recapture of previously claimed credits. Qualified withdrawals from an Indiana529 Plan account are already state and federally tax-exempt