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Exemptions and Deductions for Part Year Indiana Residents

Forum|Forum|4 years ago
February 21, 2022
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Dear Experts,

I lived in Indiana from 1/1/2021 to 9/12/2021. My status is married filling jointly.

Will I get all deductions and exemptions same as full year Indiana residents? Like upto $3000 for rent etc.

Or there will be some different process for part year residents?

Thanks,

Best answer by ColeenD3

Part-Year Residents and Full-Year Nonresidents

If you were a part-year resident and received income while you lived in Indiana, you must file Indiana Form IT-40PNR, Part-Year Resident or Nonresident Individual Income Tax Return.

If you were a legal resident of another state (exception: see Full-Year Residents of Kentucky, Michigan, Ohio, Pennsylvania or Wisconsin below) and had income from Indiana (except certain interest, dividends, or pension income), you must file Form IT-40PNR.

Check out the IT-40PNR instruction booklet for more information.

Schedule C:

Deductions Line 1 – Renter’s Deduction You may be able to take the renter’s deduction if:

• You paid rent on your principal place of residence, and

• You rented a place that was located in Indiana and subject to Indiana property tax. Your “principal place of residence” is the place where you have your true, fixed, permanent home and where you intend to return after being absent. If you rented a manufactured home in Indiana or paid rent for your manufactured home lot, you may claim the renter’s deduction if the above requirements are met. Rent paid for summer homes or vacation homes is not deductible. Important. You cannot claim the renter’s deduction if the rental property was not subject to Indiana property tax. How do I report my deduction? First, complete the information area by entering:

• The address where rented if it’s different from the address on the front of the return (leave blank if it is not different),

• The landlord’s name and address,

• The total amount of rent paid, and

• The number of months you lived there. If you moved during the year or had more than one landlord, you must list the same information for each place that you rented. Attach additional pages if necessary.

How much rent can I deduct? You can deduct up to $3,000 ($1,500 if married filing separately) or the amount of rent paid, whichever is less. Example. Bill paid $400 rent for his first apartment, which was located in Indiana. He moved to another Indiana location during the year and paid $2,800 rent for the rest of the year. His deduction will be limited to $3,000, even though he paid $3,200 altogether.

Important. Keep copies of your rental receipts, landlord identifying information and lease agreements as DOR can require you to provide this information

ColeenD3Answer

Part-Year Residents and Full-Year Nonresidents

If you were a part-year resident and received income while you lived in Indiana, you must file Indiana Form IT-40PNR, Part-Year Resident or Nonresident Individual Income Tax Return.

If you were a legal resident of another state (exception: see Full-Year Residents of Kentucky, Michigan, Ohio, Pennsylvania or Wisconsin below) and had income from Indiana (except certain interest, dividends, or pension income), you must file Form IT-40PNR.

Check out the IT-40PNR instruction booklet for more information.

Schedule C:

Deductions Line 1 – Renter’s Deduction You may be able to take the renter’s deduction if:

• You paid rent on your principal place of residence, and

• You rented a place that was located in Indiana and subject to Indiana property tax. Your “principal place of residence” is the place where you have your true, fixed, permanent home and where you intend to return after being absent. If you rented a manufactured home in Indiana or paid rent for your manufactured home lot, you may claim the renter’s deduction if the above requirements are met. Rent paid for summer homes or vacation homes is not deductible. Important. You cannot claim the renter’s deduction if the rental property was not subject to Indiana property tax. How do I report my deduction? First, complete the information area by entering:

• The address where rented if it’s different from the address on the front of the return (leave blank if it is not different),

• The landlord’s name and address,

• The total amount of rent paid, and

• The number of months you lived there. If you moved during the year or had more than one landlord, you must list the same information for each place that you rented. Attach additional pages if necessary.

How much rent can I deduct? You can deduct up to $3,000 ($1,500 if married filing separately) or the amount of rent paid, whichever is less. Example. Bill paid $400 rent for his first apartment, which was located in Indiana. He moved to another Indiana location during the year and paid $2,800 rent for the rest of the year. His deduction will be limited to $3,000, even though he paid $3,200 altogether.

Important. Keep copies of your rental receipts, landlord identifying information and lease agreements as DOR can require you to provide this information