State Form 46021 - Sales Disclosure Form - Indiana Page 12

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INDIANA SALES DISCLOSURE FORM INSTRUCTIONS

Page 9

APPLICATION FORM AND

RESTRICTIONS WHEN

DEDUCTION

MAXIMUM AMOUNT

VERIFICATION (PROOF)

COMBINING WITH OTHER

(Indiana Code)

***

ELIGIBILITY REQUIREMENTS

REQUIRED

DEDUCTIONS***

1) as of the date the statement is filed, owns real estate or mobile or manufactured home

not assessed as real property or is buying under a contract that requires buyer to pay

taxes;

2) served in U.S. military service for at least 90 days and honorably discharged;

State Form 12662

PARTIALLY - These

Either VA Form 20-5455 Code 1

3) either totally disabled or at least age 62 with at least 10% disability;

deductions may be claimed

Disabled Veteran (6-1.1-

In Item #15; Pension Certificate;

with all other deductions

$12,480**

4) written evidence of the disability; and

12-14;15)

Award of Compensation from VA

EXCEPT the Over 65

5) assessed value of real and personal property combined is not greater than $143,160;

or DOD; or Certificate of

Deduction.

eligibility from IN Dept of VA.

6) with respect to real property, file during the year for which deduction is sought and

with respect to mobile or manufactured home, file during the 12 months before March

31 of the year for which deduction is sought.

7) surviving spouse may apply;

1) as of date the statement is filed, individual owns real estate or mobile or manufactured

home not assessed as real property or is buying on recorded contract that requires

buyer to pay tax;

State Form 12662

PARTIALLY - This deduction

Either VA Form 20-5455 Code 2

2) honorable discharged after serving in U.S. military during a war;

Veteran with Service

may be claimed with all other

In Item #15; Pension Certificate;

Connected Disability (6-

$24,960**

3) service connected disability of at least 10% with written evidence of disability;

deductions EXCEPT Surviving

Award of Compensation from VA

1.1-12-13;15)

Spouse of WW I Veteran

4) with respect to real property, file during the year for which the deduction is sought, and

or DOD; or Certificate of

Deduction.

with respect to mobile or manufactured home, file during the 12 months before March

eligibility from IN Dept of VA.

31 of the year for which deduction is sought.

5) surviving spouse may apply;

1) as of date the statement is filed, resident of Indiana owns or is buying real estate or

mobile or manufactured home not assessed as real property or is buying on recorded

contract that requires buyer to pay tax, but may not be denied deduction if absent from

State Form 12662

PARTIALLY - This deduction

Veteran World War I (6-

principal place of residence while in nursing home or hospital;

Letter from VA or Department of

may be claimed with all other

$18,720**

1.1-12-17.4)

Defense; or Discharge

deductions EXCEPT the Over

2) veteran of World War I;

Documents.

65 Deduction.

3) assessed value of the residence property does not exceed $206,500; and

4) own the real estate for at least one year prior to claiming deduction.

1) as of date the statement is filed, surviving spouse owns real estate or mobile or

manufactured home not assessed as real property or is buying on recorded contract

that requires buyer to pay tax;

PARTIALLY - This deduction

State Form 12662

may be claimed with all other

2) spouse of deceased person who served in the U.S. military before November 12, 1918;

Surviving Spouse of

Letter from VA or Department of

deductions EXCEPT the Over

World War I Veteran (6-

$18,720**

3) honorable discharge; and

Defense; or Discharge

65 Deduction and Veteran

1.1-12-16;17(b))

4) not claiming the Deduction for Disabled Veterans or Surviving Spouses.

Documents.

with Service Connected

Disability.

5) with respect to real property, file during the year for which the surviving spouse wishes

to obtain the deduction and with respect to mobile or manufactured homes, file during

the 12 months before March 31 of each year for which deduction is desired.

* The rate used is specific to the county. Depending on the county, you may also receive a County Homestead Credit on your residence. Please consult with your county auditor.

** Any unused portion after application to residence property applies next to personal property and lastly as Excise Tax Credit on either motor vehicle excise tax (IC 6-6-5-5) or aircraft license tax (IC 6-6-6.5)

*** The sum of the deductions provided to a mobile home or to a manufactured home that is not assessed as real property may not exceed one-half (1/2) of the assessed value of the mobile home or manufactured

home. (IC 6-1.1-12-40.5)

Specific deduction claim forms are available from the county auditor or on the Indiana Department of Local Government Finance website: