State Form 20152 Schedule CC-40 Indiana College Credit - Indiana

What Is State Form 20152 Schedule CC-40?

This is a legal form that was released by the Indiana Department of Revenue - a government authority operating within Indiana. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 20152?
A: Form 20152 is the Indiana College Credit Schedule CC-40.

Q: What is the purpose of Schedule CC-40?
A: Schedule CC-40 is used to claim the Indiana College Credit.

Q: Who is eligible for the Indiana College Credit?
A: Indiana residents who are enrolled as a student at an eligible institution and paying qualified higher education expenses.

Q: What are qualified higher education expenses?
A: Qualified higher education expenses include tuition and certain fees paid to an eligible institution.

Q: How much is the Indiana College Credit?
A: The Indiana College Credit is based on 10% of the qualified higher education expenses, up to a maximum credit of $1,000.

Q: How do I claim the Indiana College Credit?
A: You need to complete Schedule CC-40 and include it with your Indiana state income tax return.

Q: Are there any income limits to claim the Indiana College Credit?
A: No, there are no income limits to claim the Indiana College Credit.

Q: Can I claim the Indiana College Credit for expenses paid by a scholarship?
A: No, you cannot claim the credit for expenses paid by a scholarship.

Q: Can I claim the Indiana College Credit if I am a dependent on someone else's tax return?
A: No, you cannot claim the credit if you are claimed as a dependent on someone else's tax return.

Q: Is the Indiana College Credit refundable?
A: No, the Indiana College Credit is non-refundable, but any unused credit can be carried forward for up to 10 years.