Indiana taxpayers may take a tax credit of 50% of their gift to IU. For a joint return, the maximum credit is $200, based on gift of $400 or more. For a single return, the maximum credit is $100 (based on a gift of $200 or more). The payment of tuition, fees, or room and board are not charitable contributions and do not qualify for this credit.
After you make your gift to IU, you will only need to complete one simple form—the Indiana CC-40. Attach this form to your Indiana income tax return for the tax year in which you made the gift.
You may obtain the Indiana CC-40 tax form, along with all requirements and instructions, from the State of Indiana’s website here.
This form is for computing credit for contributions to colleges and universities located in Indiana. This schedule, or a statement showing the same information, must be attached to the contributor’s income tax return.
Information on IUF’s tax-exempt status as a 501(c)(3) organization.