Form It-40 - Indiana Full-Year Resident Individual Income Tax Booklet - 2012 Page 35
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64Part 5: All filers using Worksheet B
6.
Enter your total earned income from Part 4, line 4b.
6 _____________
7.
Look up the amount on line 6 above in the Indiana Earned Income Credit Table (beginning on page 36)
to find the credit. Be sure you use the correct column for the number of children you can claim.
Enter the credit here.
7 _____________
If line 7 is zero, STOP. You cannot take the credit.
8.
Enter your modified adjusted gross income from Step 5, Box A. (If you filled out Worksheet 3, enter
the amount from line 17.)
8 _____________
9.
Are the amounts on lines 8 and 6 the same?
Yes. Skip line 10; enter the amount from line 7 on line 11.
No. Go to line 10.
Part 6: Filers who answered “No” on line 9
10. If you have:
•
No qualifying children, is the amount on line 8 less than $7,800?
•
1 or more qualifying children, is the amount on line 8 less than $17,100?
Yes. Leave line 10 blank; enter the amount from line 7 on line 11.
No. Look up the amount on line 8 in the Indiana Earned Income Credit Table (beginning on page 36) to find
the credit. Be sure you use the correct column for the number of children you can claim. Enter the credit here.
10 ____________
Look at the amounts on lines 10 and 7. Then, enter the smaller amount on line 11.
Part 7: Your Indiana earned income credit.
11. This is the amount from Part 5 or Part 6 above.
11 ____________
12. If you have an alternative minimum tax on either your federal Form 1040, line 45, or included in the total
on federal Form 1040A, line 28, then multiply that amount by 9 percent (.09) and enter the result here.
12 ____________
13. Subtract line 12 from line 11 (if zero or less, STOP. You cannot take a credit). Enter this amount here.
13 ____________
14. Enter the earned income credit claimed on your federal income tax return
(Form 1040, line 64a; Form IT-40A, line 38a; or Form 1040EZ, line 8a)
14 ___________
15. Multiply line 14 by .09 (9%). Enter result here.
15 ____________
16. Look at the amount on line 13 and on line 15. Then, enter the smaller amount here
Indiana Earned Income Credit
and on Schedule IN-EIC, line A-3.
16 ____________
Final Step – You must complete Schedule IN-EIC and enclose it with your tax return when you file.
Page 35
IT-40 Booklet 2012
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial