Form It-40 - Sales/use Tax Worksheet - 2009 (Page 2 of 3) in pdf

Line 4 - Unified tax credit for the elderly

Use Table B if:

You may be able to claim a credit if you or your spouse meet all the

You meet all the requirements listed above, and:

following requirements:

•

You are age 65 or older and are single or widowed,

•

You and/or your spouse must have been age 65 or older by Dec.

You are filing a joint return and only one is age 65 or older,

•

31, 2009,

You are filing a joint return and only one was an Indiana resident

•

If married and living together at any time during the year, you

for at least six months, or you are married but did not live with

must file a joint return,

your spouse during 2009, are age 65 or older and are married

•

The amount on line 1 of Form IT-40 must be less than $10,000,

filing separately.

•

You must have been a resident of Indiana for six months or more

Table B

during 2009, and

Only One Person Age 65 or Older

•

You must not have been in prison for 180 days or more in 2009.

If the income on Line 1 of

Your Allowable

Form IT-40 is:

Credit* is:

Note: Disabled persons under age 65 do not qualify for this credit.

less than $1,000 ..................................................................... $100

between $1,000 and $2,999 ................................................... $50

Important:

between $3,000 and $9,999 ................................................... $40

•

If your spouse died after Jan. 1, 2009, you can claim this credit by

* Once you have located your credit on Table A or Table B, enter that

filing a joint return.

amount on line 4.

•

If a person dies and does not have a surviving spouse, then no

one can claim the credit on behalf of the deceased person.

Line 5 Indiana’s earned income credit:

•

If your income is low enough that you are not required to file

Schedule IN-EIC

a Form IT-40, and you meet the requirements for claiming the

Indiana’s earned income credit is based on your federal earned income

Unified Tax Credit for the Elderly, do not file Form IT-40. Instead,

credit. If your federal earned income credit is $6 or more, you may be

file the simplified Form SC-40 to claim this credit.*

eligible for Indiana’s earned income credit. The earned income credit

will lower the tax you owe and may give you a refund even if you don’t

*Form SC-40 can be found at

Or, call (317)

owe any tax.

615-2581. You can claim the credit on either Form IT-40 or Form SC-

40, but file only one of these forms, and only file once.

To claim the credit you must complete and enclose Schedule IN-EIC.

For additional information see Income Tax Information Bulletin #92 at

Note: You must file the Form IT-40 if you are eligible for the Lake

, and Schedule IN-EIC at

County residential income tax credit. See line 6 instructions in the next

column for more information.

Line 6

–

Lake County (Indiana) residential income tax

The deadline for claiming this credit is June 30, 2010.

credit

The only exception to this rule is if you have a valid federal extension of

You may be eligible to claim a Lake County (Indiana) residential

time to file, Form 4868. Having a valid federal extension will allow you

income tax credit if you meet all three of the following requirements.

to claim this credit through Nov. 15, 2010. See Extension of time to file

– What if you can’t file on time? on page 8 for information about getting

You paid property tax to Lake County (Indiana) during 2009 on

an extension of time to file.

your residence. Your “residence” is your principal dwelling. You

must either own or be buying the residence under contract, and

To figure your unified tax credit for the elderly:

must pay property tax to Lake County (Indiana) on that residence.

Use Table A if:

Your earned income must be less than $18,600. Earned income is

You meet all the requirements listed above, and:

the combination of your (and your spouse’s, if filing a joint return)

wages, salaries, tips and other compensation, plus net earnings

•

You are filing a joint return, lived with your spouse during 2009,

from self-employment (income on which you are required to pay

both were Indiana residents for at least six months and both were

self-employment tax on federal Schedule SE). NOTE: Income from

age 65 or older by Dec. 31, 2009, or

pensions, interest, dividends, Social Security, etc., is not classified

•

Both you and your spouse met all the above-requirements and

as earned income.

your spouse died after Jan. 1, 2009.

Example. Sue has $17,000 wage income, $300 interest income and

Table A

$7,000 pension income. Even though her total income is $24,300,

Joint Filers Both Age 65 or Older

Sue will qualify for the credit because her earned income is less

If the income on Line 1 of

Your Allowable

than $18,600 (it is $17,000).

Form IT-40 is:

Credit* is:

less than $1,000 ...................................................................... $140

between $1,000 and $2,999 ................................................... $90

between $3,000 and $9,999 ................................................... $80

Page 24

IT-40 Booklet 2009

Form It-40 - Sales/use Tax Worksheet - 2009 Page 2

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