Form It-40 - Indiana Full-Year Resident Individual Income Tax Instruction Booklet - 2011 Page 27
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60Important:
* Once you have located your credit on Table A or Table B, enter that
amount on line 4.
•
If your spouse died after Jan. 1, 2011, you can claim this credit by
filing a joint return.
•
If a person dies and does not have a surviving spouse, then no one
Line 5 Indiana’s earned income credit (EIC)
can claim the credit on behalf of the deceased person.
The way to figure Indiana’s earned income credit has changed. Here
•
If your income is low enough that you are not required to file
are some important things to know:
a Form IT-40, and you meet the requirements for claiming the
•
You must be eligible for and have claimed an EIC on your federal
Unified Tax Credit for the Elderly, do not file Form IT-40. Instead,
tax return. If not, STOP. You are not eligible to claim Indiana’s
file the simplified Form SC-40 to claim this credit.*
EIC.
•
Your income on Form IT-40, line 1 (or Indiana’s Schedule A, line
*Form SC-40 can be found at Or, call (317)
37A), must be less than $40,950. If it is the same amount or more,
615-2581. You can claim the credit on either Form IT-40 or Form SC-
STOP. You are not eligible to claim Indiana’s EIC.
40, but file only one of these forms, and only file once.
•
Schedule IN-EIC must be completed and enclosed by all filers
claiming the EIC.
Note. You must file the Form IT-40 if you are eligible for the Lake
•
No longer may this credit be claimed on Form IT-40EZ.
County residential income tax credit. See line 6 instructions on page 38
•
Indiana’s Publication EIC is available for additional information.
for more information.
It may be viewed online at
The deadline for claiming this credit is July 2, 2012.
What is the EIC?
The only exception to this rule is if you have a valid federal extension of
The EIC is a credit for certain people who work. The credit may give
time to file, Form 4868. Having a valid federal extension will allow you
you a refund even if you don’t owe any tax.
to claim this credit through Nov. 19, 2012. See Extension of time to file
– What if you can’t file on time? on page 8 for information about getting
To take the EIC:
an extension of time to file.
•
Follow the steps below.
•
Complete the worksheet(s) that apply to you.
To figure your unified tax credit for the elderly:
•
Complete and enclose Schedule IN-EIC.
Use Table A if:
Step 1 All Filers
You meet all the requirements listed above, and:
1.
Did you claim an EIC on your 2011 federal tax return (on federal
•
You are filing a joint return, lived with your spouse during 2011,
Form 1040, line 64a; Form 1040A, line 38a; or on Form 1040EZ,
both were Indiana residents for at least six months and both were
line 8a)?
age 65 or older by Dec. 31, 2011, or
•
Both you and your spouse met all the above-requirements and
Yes. Continue
your spouse died after Jan. 1, 2011.
No. STOP. You cannot take the credit.
Table A
2.
If, in 2011:
Joint Filers Both Age 65 or Older
•
2 or more children lived with you, is the amount on Form IT-
If the income on Line 1 of
Your Allowable
40, line 1 (Indiana’s Schedule A, line 37A), less than $40,950?
Form IT-40 is:
Credit* is:
•
1 child lived with you, is the amount on Form IT-40, line 1
less than $1,000 .................................................................................. $140
(Indiana’s Schedule A, line 37A), less than $36,050?
between $1,000 and $2,999 .............................................................. $90
•
No children lived with you, is the amount on Form IT-40,
between $3,000 and $9,999 .............................................................. $80
line 1 (Indiana’s Schedule A, line 37A), less than $13,550?
Use Table B if:
Yes. Continue
You meet all the requirements listed above, and:
No. STOP. You cannot take the credit.
•
You are age 65 or older and are single or widowed,
•
You are filing a joint return and only one is age 65 or older,
•
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
1.
Add amounts from:
your spouse during 2011, are age 65 or older and are married
Federal Form 1040 or Form 1040A, Line 8a
+ __________
filing separately.
Federal Form 1040 or Form 1040A, Line 8b
+ __________
Federal Form 1040 or Form 1040A, Line 9a
+ __________
Table B
Federal Form 1040A, Line 10
+ __________
Only One Person Age 65 or Older
Federal Form 1040, Line 13*
+ __________
Your Allowable
If the income on Line 1 of
Form IT-40 is:
Credit* is:
Investment Income
= __________
less than $1,000 ................................................................................. $100
between $1,000 and $2,999 .............................................................. $50
*If line 13 is a loss, enter -0-.
between $3,000 and $9,999 .............................................................. $40
Page 27
IT-40 Booklet 2011
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