If you received unemployment benefits, the state of Indiana may tax only a portion of your unemployment compensation, which would allow you to pay less in tax than you did to the federal government. If your dependent child is enrolled in private school or is homeschooled, you can deduct $1,000 per child on your Indiana income tax return. Taxpayers can deduct up to $2,500 of Indiana property taxes paid on their principal residence. Homeowner’s Residential Property Tax Deduction In addition, if your property is owned by a government, nonprofit, or cooperative, you can’t deduct your rent. The deduction is valid for your permanent residence only, and summer, vacation and student housing aren’t eligible. Taxpayers can deduct up to $3,000 of rent they paid for their residence in Indiana. Income Tax Deductions for Indiana Renter’s Deduction Indiana has a flat tax rate of 3.23% for 2021, meaning everyone pays the same state income tax regardless of their income. Indiana offers tax deductions and credits to reduce your tax liability, including deductions for renters and homeowners, an earned income tax credit (EITC) and a credit for senior citizens. The state income tax rate is 3.23%, and the sales tax rate is 7%. The state of Indiana requires you to pay taxes if you’re a resident or nonresident who receives income from an Indiana source. On Intuit's Website What You Need To Know About Indiana State Taxes Here is a list of our partners who offer products that we have affiliate links for. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. Second, we also include links to advertisers' offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers' offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective.
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