Form It-40 - Indiana Full-Year Resident Individual Income Tax Booklet - 2013 Page 29
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60Yes. Continue
Table A
No. STOP. You cannot take the credit.
Joint Filers Both Age 65 or Older
If the income on Line 1 of
Your Allowable
2. If, in 2013:
Form IT-40 is:
Credit* is:
•
2 or more children lived with you, is the amount on Form IT-
less than $1,000
$140
40, line 1 (Indiana’s Schedule A, line 37A), less than $43,100?
between $1,000 and $2,999
$90
•
1 child lived with you, is the amount on Form IT-40, line 1
between $3,000 and $9,999
$80
(Indiana’s Schedule A, line 37A), less than $37,900?
•
No children lived with you, is the amount on Form IT-40,
Use Table B if:
line 1 (Indiana’s Schedule A, line 37A), less than $14,300?
You meet all the requirements listed above, and:
Yes. Continue
•
You are age 65 or older and are single or widowed,
No. STOP. You cannot take the credit.
•
You are filing a joint return and only one is age 65 or older, or
•
You are filing a joint return and only one was an Indiana resident
Step 2 Investment Income
for at least six months, or you are married but did not live with
your spouse during 2013, are age 65 or older and are married fil-
Add amounts from:
1.
ing separately.
Federal Form 1040 or Form 1040A, Line 8a
+ _________
Federal Form 1040 or Form 1040A, Line 8b
+ _________
Table B
Federal Form 1040 or Form 1040A, Line 9a
+ _________
Only One Person Age 65 or Older
Federal Form 1040A, Line 10
+ _________
Your Allowable
If the income on Line 1 of
Federal Form 1040, Line 13*
+ _________
Form IT-40 is:
Credit* is:
less than $1,000 .............................................................................$100
Investment Income
= _________
between $1,000 and $2,999 ............................................................$50
between $3,000 and $9,999 ............................................................$40
*If line 13 is a loss, enter -0-.
* Once you have located your credit on Table A or Table B, enter
Is your investment income more than $3,300?
that amount on line 4.
Yes. Continue.
Line 5 Indiana’s earned income credit (EIC)
No. Skip question 3; go to question 4.
If you are eligible for an earned income credit on your federal tax re-
Did you file federal Form 4797 (relating to sales of business property)?
turn, you may be eligible for Indiana’s earned income credit, too. Here
are some important things to know:
No. STOP. You cannot take the credit.
•
You must be eligible for and have claimed an EIC on your federal
tax return. If not, STOP. You are not eligible to claim Indiana’s
Yes. If the amount on federal Form 1040, line 13, includes an amount
EIC.
from federal Form 4797, you must use Worksheet 1 in Indiana’s Pub-
•
Your income on Form IT-40, line 1 (or Indiana’s Schedule A, line
lication EIC (located online at
)
to see if you
37A), must be less than $43,100. If it is the same amount or more,
can take the EIC. Otherwise, STOP; you cannot take the EIC.
STOP. You are not eligible to claim Indiana’s EIC.
•
Schedule IN-EIC must be completed and enclosed by all filers
Do any of the following apply for 2013?
claiming the EIC.
•
You filed federal Schedule E.
•
You are claiming a loss on federal Form 1040 line, 12, 13 and/or
Indiana’s Publication EIC is available for additional information. It
18.
may be viewed online at .
•
You are reporting income or a loss from the rental of personal
What is the EIC?
property not used in a trade or business.
•
You and/or spouse if married filing jointly received a distribution
The EIC is a credit for certain people who work. The credit may give
from a pension, annuity, IRA or Coverdell ESA that is not fully
you a refund even if you don’t owe any tax.
taxable.
•
You reported income on federal Form 1040, line 21, from federal
To take the EIC:
Form 8814 (relating to election to report child’s interest and divi-
•
Follow the steps below.
dends).
•
Complete the worksheet(s) that apply to you.
•
Complete and enclose Schedule IN-EIC.
Step 1 All Filers
Did you claim an EIC on your 2013 federal tax return (on federal
1.
Form 1040, line 64a; Form 1040A, line 38a; or on Form 1040EZ,
line 8a)?
Page 29
IT-40 Booklet 2013
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