Wabash College: Alumni - Indiana Tax Credit

Annual Giving

Alumni and friends who file an Indiana state income tax return are eligible for a tax credit. The State of Indiana will credit up to 50% of a donor's gift to Wabash against their state income taxes. Individual filers receive a $100 credit for the first $200 contributed to Wabash, while joint filers receive a $200 credit for the first $400 contributed to the College.

Example	15% Federal Tax Rate	28% Federal Tax Rate
Tax filing status	Married Single	Married Single
Gift to Wabash	$400 $200	$400 $200
Indiana Tax Credit	($200) ($100)	($200) ($100)
Federal Tax Savings	($60) ($30)	($112) ($56)
Out of pocket cost	$140 $70	$88 $44

Indiana residents who file an Indiana state income tax return can download the 2012 CC-40 Tax Form here.