Special tax advantages for 529 owners.
CollegeChoice Advisor offers powerful tax benefits many non-529 plans don't.
- Your Plan earnings grow free from federal and state income taxes.1
- Indiana taxpayers are eligible for a state income tax credit of 20% of contributions to a CollegeChoice Advisor account, up to $1,000 credit per year.2
For more information on the tax credit, see Frequently Asked Questions on the Indiana Education Savings Authority website. (Note: You will be leaving this website.)
1 Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
2 This credit may be subject to recapture from the account owner (not the contributor) in certain circumstances, such as a rollover to another state's qualified tuition program or a non-qualified withdrawal. Please note that, effective January 1, 2010, the Indiana state income tax credit will no longer apply to rollovers from another state's qualified tuition program or to transfers from the Upromise service into a CollegeChoice Advisor account. All other contributions will continue to be eligible for the tax credit to the extent previously allowable.