Revenue department helps Hoosiers with tax credits and deductions

Taxes
Tax deductions reduce the amount of taxable income, and Indiana has 20 applicable ones. | File photo

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The Indiana Department of Revenue has introduced resources on its website to help people throughout the tax process this season, including forms and detailed qualifications needed for each credit and deduction.

Tax credits are applied to the taxable income for the tax year and reduce the amount of tax paid. There are 23 available credits applicable to Indiana taxes, which are outlined here. The most commonly claimed credits include state and county tax withheld credit;  earned income credit; credit for taxes paid to other states; and college credit.

Tax deductions reduce the amount of taxable income, and Indiana has 20 applicable deductions outlined here.

The most commonly claimed deductions are residential homeowner’s property tax deduction; renter’s deduction; Social Security or railroad retirement benefits deduction; and interest on U.S. obligations deduction.

For more information, visit the DOR website or call DOR customer service at 317-232-2240 Monday through Friday from 8 a.m. to 4:30 p.m. EST.

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