State Form 46021 - Sales Disclosure Form - Indiana Page 11
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12INDIANA SALES DISCLOSURE FORM INSTRUCTIONS
Page 8
APPLICATION FORM AND
RESTRICTIONS WHEN
DEDUCTION
MAXIMUM AMOUNT
VERIFICATION (PROOF)
COMBINING WITH OTHER
(Indiana Code)
***
ELIGIBILITY REQUIREMENTS
REQUIRED
DEDUCTIONS***
1) qualified for standard deduction in preceding calendar year and qualifies in current
year;
2) for single individual, adjusted gross income cannot exceed $30,000, for married couple
adjusted gross income cannot exceed $40,000;
3) homestead qualifies as a “qualified homestead property” for the calendar year and filing
requirements are met. (“qualified homestead” means the individual owns or is
Tax liability minus
State Form 43708
purchasing the homestead on contract or has beneficial interest, is or will be at least 65
Over 65 Circuit Breaker
the tax for preceding
Internal Revenue Service form
on or before December 31 of the calendar year immediately preceding the calendar year
Credit
None
year multiplied by
1040 for the previous calendar
in which the taxes are due, and the gross adjusted value of the homestead on the
(6-1.1-20.6-8.5)
1.02.
year for applicant and co-owner.
assessment date is less than $160,000.)
4) with respect to real property, file during the year for which credit is sought;
5) with respect to mobile or manufactured home not assessed as real property, file during
the twelve months before March 31 of the year for which credit is sought;
6) file in same manner as for 6-1.1-12-9 (over 65 deduction);
7) applies to taxes due and payable after December 31, 2008.
1) individual is blind as defined in IC 12-7-2-21(1);
2) the real property, mobile or manufactured home is principally used and occupied by the
individual as the individual’s residence;
PARTIALLY - These
3) as of the date the statement is filed, individual owns real estate or mobile or
deductions may be claimed
manufactured home not assessed as real property or is buying under a recorded
State Form 43710
Blind (6-1.1-12-11;12)
$12,480
with all other deductions
contract provides buyer is to pay taxes;
Proof of Blindness
EXCEPT the Over 65
4) taxable gross income does not exceed $17,000; and
Deduction.
5) with respect to real property, file during the year for which the individual seeks
deduction and with respect to mobile or manufactured home, file during the 12 months
before March 31 of the year for which deduction is sought.
1) individual is disabled meaning a person unable to engage in any substantial gainful
activity by reason of a medically determinable physical or mental impairment which can
State Form 43710
be expected to result in death or has lasted or can be expected to last for a continuous
Proof of Disability: proof that
period of not less than 12 months;
applicant is eligible to receive
disability benefits under the
2) the real property, mobile or manufactured home is principally used and occupied by the
PARTIALLY - These
federal Social Security Act
individual as the individual’s residence;
deductions may be claimed
constitutes proof for purposes of
Disabled (6-1.1-12-11)
$12,480
3) as of the date the statement is filed, individual owns real estate or mobile or
with all other deductions
this section, however, an
manufactured home not assessed as real property or is buying under a recorded
EXCEPT the Over 65
individual with a disability not so
contract that provides buyer is to pay taxes;
Deduction.
covered must be examined by a
4) taxable gross income not exceeding $17,000; and
physician under the same
standards as used by Social
5) with respect to real property, file during the year for which the individual seeks
Security Administration.
deduction and with respect to mobile or manufactured home, file during the 12 months
before March 31 of the year for which deduction is sought.
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