Fillable State Form 46021 - Sales Disclosure Form (Page 13 of 13) in pdf

State Form 46021 - Sales Disclosure Form Page 13

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INDIANA SALES DISCLOSURE FORM INSTRUCTIONS

Page 10

APPLICATION FORM AND

RESTRICTIONS WHEN

DEDUCTION

MAXIMUM AMOUNT

VERIFICATION (PROOF)

COMBINING WITH OTHER

(Indiana Code)

ELIGIBILITY REQUIREMENTS

REQUIRED

DEDUCTIONS**

1) Individual must own or be buying on contract the real property or mobile or

manufactured home not assessed as real property on the date the application is filed;

2) Individual must be resident of Indiana;

3) Property must be the veteran’s principal residence;

State Form 12662

PARTIALLY ‐ This deduction

4) Individual is a Veteran of World War I;

Veteran World War I

Letter from VA or Department of

may be claimed with all other

$18,720*

5) Assessed value of the residence property does not exceed $206,500;

Defense; or Discharge

deductions EXCEPT the Over

(61.11217.4)

Documents.

65 Deduction.

6) Veteran owns the real property or mobile home or manufactured home for at least one

year prior to claiming deduction;

7) Individual may not be denied the deduction because the individual is absent from the

real property or mobile home or manufactured home while in a nursing home or

hospital.

1) Surviving spouse must own or be buying on contract the real property or mobile or

manufactured home not assessed as real property on the date the application is filed;

2) Individual is spouse of deceased person who served in the U.S. military before

PARTIALLY ‐ This deduction

November 12, 1918;

State Form 12662

may be claimed with all other

Surviving Spouse of

Letter from VA or Department of

deductions EXCEPT the Over

3) Deceased spouse received an honorable discharge;

World War I Veteran

$18,720*

Defense; or Discharge

65 Deduction and Veteran

4) With respect to real property, file during the year for which the person desires to

(61.11216; 17)

Documents.

with Service Connected

obtain the deduction, and with respect to mobile or manufactured homes not assessed

Disability.

as real property, file during the twelve months before March 31 of each year for which

the deduction is sought (if mailed the mailing must be postmarked on or before the last

day for filing).

* 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: