CC-40: Form CC-40 Indiana College Credit (2025)
Indiana · Indiana DOR · Used for tax years 2025
This schedule is used to compute a credit for charitable contributions made to eligible Indiana colleges and universities. It allows taxpayers to itemize their contributions and calculate the allowable credit against their state adjusted gross income tax liability.
Who files this form
Indiana taxpayers claiming the college contribution credit must file Schedule CC-40, or a statement showing the same information, with their income tax return.
The schedule includes credit calculations for individuals, fiduciaries, and corporations. Eligible contributions are gifts to qualifying Indiana colleges and universities, or to corporations and foundations organized and operated exclusively for their benefit.
What you'll need
To complete Schedule CC-40, have the following information available:
- Your name as shown on your income tax return and your Social Security number or Federal Employer Identification Number, as applicable.
- Each eligible institution’s name and 4-digit code from the list on the form.
- Each contribution’s date in MM/DD/YYYY format and amount.
- The contributor’s return type: individual, corporate, or fiduciary.
- Your Indiana adjusted gross income tax amount from line 8 of IT-40 or IT-40PNR, line 10 of IT-41, or the appropriate line of IT-20, IT-20S, or IT-20NP.
How to file
File Schedule CC-40, or a statement showing the same information, with the contributor’s income tax return.
- List contributions to eligible institutions in Part 1, including each institution’s code, contribution date, and amount.
- Complete Part 2 for an individual or fiduciary, or Part 3 for a corporation.
- Transfer the allowable credit to IT-40 Schedule 6, line 4; IT-40PNR Schedule G, line 4; IT-41, line 14; or the appropriate line of the corporate or nonprofit tax return.
The supplied form does not give a mailing address or e-filing instructions.
Common mistakes
- Counting tuition or living costs as contributions. The form says tuition, fees, and room and board are not charitable contributions and do not qualify for this credit.
- Leaving out the supporting schedule or statement. Schedule CC-40, or a statement showing the same information, must be filed with the contributor’s income tax return.
Questions people ask
How much credit can an individual or fiduciary claim?
The credit is 50% of eligible contributions, limited to $100 on a single or fiduciary return or $200 on a jointly filed return. Part 2 also limits the allowable credit to the Indiana adjusted gross income tax amount entered on line 5.
How much credit can a corporation claim?
The credit is 50% of eligible contributions made during the tax year, but cannot exceed the lesser of $1,000 or 10% of the corporation’s adjusted gross income tax liability.
Where can I find eligible institutions and their codes?
The reverse side of Schedule CC-40 lists eligible institutions, their Indiana locations, and their 4-digit codes.
Can I submit a statement instead of Schedule CC-40?
Yes. The form allows a statement showing the same information to be filed with the contributor’s income tax return.