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Tax Advantages: If you file a state income tax return for Indiana, the state will credit up to 50% of your gift to Indiana colleges and universities against any state income taxes due. Individual filers receive a $100 credit for the first $200 contributed; joint filers receive a $200 credit for the first $400 contributed. If you itemize, your contribution may also qualify as a deduction on your federal tax return. Here is how it works: Sample Gift of $400/$200
Consult your tax or financial advisor for how this will fit in your giving plan.
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