Form It-40 - Indiana Full-Year Resident Individual Income Tax Booklet - 2012 Page 29
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64•
If your income is low enough that you are not required to file a
* Once you have located your credit on Table A or Table B, enter
that amount on line 4.
Form IT-40, and you meet the requirements for claiming the Uni-
fied Tax Credit for the Elderly, do not file Form IT-40. Instead, file
the simplified Form SC-40 to claim this credit.*
Line 5 Indiana’s earned income credit (EIC)
If you are eligible for an earned income credit on your federal tax re-
*Form SC-40 can be found at Or, call (317)
turn, you may be eligible for Indiana’s earned income credit, too. Here
615-2581. You can claim the credit on either Form IT-40 or Form SC-
are some important things to know:
40, but file only one of these forms, and only file once.
•
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
Note. You must file the Form IT-40 if you are eligible to take the Lake
EIC.
County residential income tax credit. See line 6 instructions on page
•
Your income on Form IT-40, line 1 (or Indiana’s Schedule A, line
40 for more information.
37A), must be less than $41,950. If it is the same amount or more,
STOP. You are not eligible to claim Indiana’s EIC.
The deadline for claiming this credit is July 1, 2013
•
Schedule IN-EIC must be completed and enclosed by all filers
The only exception to this rule is if you have a valid federal extension
claiming the EIC.
of time to file, Form 4868. Having a valid federal extension will allow
•
Indiana’s Publication EIC is available for additional information.
you to claim this credit through Nov. 15, 2013. See Extension of time
It may be viewed online at
to file – What if you can’t file on time? on page 8 for information about
What is the EIC?
getting an extension of time to file.
The EIC is a credit for certain people who work. The credit may give
To figure your unified tax credit for the elderly:
you a refund even if you don’t owe any tax.
To take the EIC:
Use Table A if:
•
Follow the steps below.
You meet all the requirements listed above, and:
•
Complete the worksheet(s) that apply to you.
•
You are filing a joint return, lived with your spouse during 2012,
•
Complete and enclose Schedule IN-EIC.
both were Indiana residents for at least six months and both were
age 65 or older by Dec. 31, 2012, or
•
Both you and your spouse met all the above-requirements and
Step 1 All Filers
your spouse died after Jan. 1, 2012.
1.
Did you claim an EIC on your 2012 federal tax return (on federal
Form 1040, line 64a; Form 1040A, line 38a; or on Form 1040EZ,
Table A
line 8a)?
Joint Filers Both Age 65 or Older
If the income on Line 1 of
Your Allowable
Yes. Continue
Form IT-40 is:
Credit* is:
No. STOP. You cannot take the credit.
less than $1,000
$140
between $1,000 and $2,999
$90
2.
If, in 2012:
between $3,000 and $9,999
$80
•
2 or more children lived with you, is the amount on Form IT-
40, line 1 (Indiana’s Schedule A, line 37A), less than $41,950?
Use Table B if:
•
1 child lived with you, is the amount on Form IT-40, line 1
You meet all the requirements listed above, and:
(Indiana’s Schedule A, line 37A), less than $36,900?
•
You are age 65 or older and are single or widowed,
•
No children lived with you, is the amount on Form IT-40,
•
You are filing a joint return and only one is age 65 or older,
line 1 (Indiana’s Schedule A, line 37A), less than $13,900?
•
You are filing a joint return and only one was an Indiana resident
for at least six months, or you are married but did not live with
Yes. Continue
your spouse during 2012, are age 65 or older and are married fil-
No. STOP. You cannot take the credit.
ing separately.
Table B
Only One Person Age 65 or Older
Your Allowable
If the income on Line 1 of
Form IT-40 is:
Credit* is:
less than $1,000 .............................................................................$100
between $1,000 and $2,999 ............................................................$50
between $3,000 and $9,999 ............................................................$40
Page 29
IT-40 Booklet 2012
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