Learn how to claim a state tax credit* today.

People with disabilities have limitless potential. Now it's even easier for Hoosiers to save money with INvestABLE Indiana.

INvestABLE Indiana offers Hoosier taxpayers a state tax credit* to save on qualified disability expenses** without losing eligibility for specific assistance programs, including SSI and Medicaid. Beginning January 2024, this credit is available to all Indiana taxpayers who contribute to an open Indiana ABLE account.

Ready to increase your savings? Check your eligibility below to get started.

How to qualify for the state income tax credit*

INvestABLE Indiana allows your earnings to grow tax-deferred and tax-free, ultimately helping your savings compound and potentially earn returns. While the program allows account holders to enjoy peace of mind knowing their investments can be used for qualified disability expenses without the burden of federal taxes, now you can generate additional savings on taxes.

Starting January 2024, Indiana taxpayers can claim a stand-alone credit for contributions to ABLE accounts. Here's how you can do it:

To qualify for the tax credit*, you must meet the following criteria:

Be entitled to a credit against adjusted gross income tax equal to at least one of the following:

20% of the total contributions made to an INvestABLE Indiana 529A savings plan during the taxable year,
$500 or
The amount of the taxpayer's adjusted gross income tax for the taxable year, reduced by the sum of all allowable credits.

Interested in learning more? Reach out today to learn more about the state tax credit*.

Learn more

Disclosure

*Indiana taxpayers are eligible for a state income tax credit of 20% of contributions to an INvestABLE Indiana account, up to $500 credit per year. This credit may be subject to recapture from the account owner (not the contributor) in certain circumstances, such as distributions made from an account that is terminated within 12 months, rollovers to another state's ABLE plan, or rollovers to a 529 plan other than a 529 plan established by the State of Indiana.

**Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as applicable state and local income taxes.

Forms

Manage your account online or with paper forms.

Questions

Read our FAQ section for answers.

Resources

Additional information about ABLE.

For more information about INvestABLE Indiana (the "Member Plan"), call (888) 609-3457, or visit in.savewithable.com to obtain the Plan Disclosure Booklet and/or the Investment Policy Statement, which include investment objectives, risks, charges, expenses, and other important information about the Member Plan. Please read and consider the Plan Disclosure Booklet carefully before investing.

Before investing in any ABLE program, you should consider whether your home state offers an ABLE program that provides its taxpayers with favorable state tax or other benefits that are only available through investment in the home state's ABLE program. You also should consult your financial, tax, or other adviser to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to directly contact your home state's ABLE program, or any other ABLE program, to learn more about those plans' features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The Member Plan is sponsored by the state of Indiana and administered by Indiana ABLE Authority. The Member Plan is intended to be a qualified ABLE plan offered through the National ABLE Alliance. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations, including investment advisory, recordkeeping and administrative services. The Member Plan’s Investment Options are allocations to mutual funds, ETFs, banking products and/or other investments. Except for the Checking Account Option, investments in the Member Plan are not insured by the FDIC. Interests in the Member Plan are municipal securities and the value of your Account will vary with market conditions.

Investment returns will vary depending upon the performance of the Investment Options you choose. You could lose all or a portion of your money by investing in the Member Plan depending on market conditions. Account Owners assume all investment risks as well as responsibility for any federal and state tax consequences.

This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice, or for use to avoid penalties that may be imposed under federal or state tax laws. This material is not an offer to sell or a solicitation of an offer to buy any securities. Participation in the Member Plan does not guarantee that contributions and the investment return on contributions, if any, will be adequate to cover future expenses or that an account owner is eligible to participate in the Member Plan.