Schedule Tcsp-40 -Twenty-First Century Scholars Program Credit - 2012

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Schedule
Twenty-First Century Scholars Program Credit
Enclosure
TCSP-40
2012
Sequence No. 19
This schedule is for computing credit for contributions to the
State Form 47335
Twenty-First Century Scholars Program and must be
(R5 / 9-12)
enclosed with the contributor’s income tax return.
Name(s) shown on Form IT-40/IT-40PNR
Your Social Security Number
Name shown on IT-20
Federal ID Number
Indicate the type of return fi led by the contributor. Individual
Corporate
Column A
Column B
Single or Married
Married Filing
PART I Individual and Fiduciary Computation of Credit
but Filing Separately
a Joint Return
1. Enter the total contributions to the Twenty-First Century
.00
.00
Scholars Program __________________________________
1
1
.00
.00
2. Enter 50% of line 1 __________________________________
2
2
100 . 00
200.00
3. Limitation ($100 single return or $200 joint return) _________
3
3
.00
.00
4. Enter the lesser of line 2 or line 3 ______________________
4
4
5. Enter Indiana adjusted gross income tax from line 8 of IT-40
.00
.00
or IT-40PNR _______________________________________
5
5
6. Allowable Credit: Enter line 4 or 5, whichever is less. Enter
here and on IT-40 Schedule 6, under line 6; on IT-40PNR
.00
.00
Schedule G, under line 6 _____________________________
6
6
PART II Corporation’s Computation of Credit
.00
1. Enter the total contributions to the Twenty-First Century Scholars Program ___________________
1
.00
2. Enter 50% of line 1, or $1,000, whichever is less . ______________________________________
2
.00
3. Enter the adjusted gross income tax from the appropriate line on IT-20 or IT-20NP ____________
3
.00
4. Multiply line 3 by 10% (.10) ________________________________________________________
4
5. CREDIT: Enter line 2 or line 4, whichever is less. Enter here and on appropriate line of the
.00
corporate tax return ______________________________________________________________
5
Important:
You are required to retain the receipts given by the Twenty-First Century Scholars Program indicating that a contribution
has been made. These receipts should be maintained for a period of three years after the due date of the annual tax return
where the credit was taken or three years after the date that return was fi led, whichever is later.
General Information
Indiana taxpayers are allowed a credit against their Indiana state adjusted gross income tax liability for contributions to the
Twenty-First Century Scholars Program. Detailed information about the scholarship program, registration, and administration
may be obtained by calling the Twenty-First Century Scholars Program at (317) 233-2100.
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24100000000

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