Indiana Twenty-First Century Scholars Program Credit (OBSOLETE)

Twenty-First Century Scholars Program Credit (OBSOLETE)
TCSP-40 (09-12).indd
Schedule

Twenty-First Century Scholars Program Credit

State Form 47335
(R9 / 9-16)

This schedule is for computing credit for contributions to the
Twenty-First Century Scholars Program and must be
enclosed with the contributor’s income tax return.

TCSP-40

2016

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 filed by the contributor.	 Individual	

Enclosure
Sequence No. 19

Corporate

PART I Individual and Fiduciary Computation of Credit

Column A
Single or Married
but Filing Separately

Column B
Married Filing
a Joint Return

1.	 Enter the total contributions to the Twenty-First Century
Scholars Program ___________________________________ 	1	.00	1	.00
2.	 Enter 50% of line 1___________________________________ 	2	.00	2	.00
3.	 Limitation ($100 single return or $200 joint return)__________ 	3	

100	.	00 	

3	200.00

4.	 Enter the lesser of line 2 or line 3_______________________ 	4	.00	4	.00
5.	 Enter Indiana adjusted gross income tax from line 8 of IT-40
or IT-40PNR________________________________________ 	5	.00	5	.00
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
Schedule G, under line 6______________________________ 	6	.00	6	.00

PART II Corporation’s Computation of Credit
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	
.00
5.	 CREDIT: Enter line 2 or line 4, whichever is less. Enter here and on appropriate line of the
corporate tax return _______________________________________________________________ 	5	.00

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 filed, 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 (888) 528-4719.

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