Enclosure
Schedule IN-CR                                              Credit Recapture                                       2022
Form IT-40/IT-40PNR                                                                                                             Sequence No. 11 
State Form 56680 
(R3 / 9-22)
Name(s) shown on Form IT-40/Form IT-40PNR                                         Your Social Security Number

Complete this schedule if you are reporting a recapture of an offset credit that was claimed in a prior year. See instructions. 

                    Column A              Column B          Column C                   Column D                                 Column E 
                    Enter Offset          Place “X” in Box  Account Number,            Offset Credit               Amount of Offset Credit to 
                    Credit Name           if K-12 Credit    Certification Number, etc. 3-Digit Code                             be Recaptured

1.                                                                                     R                           1.                        .00

2.                                                                                     R                           2.                        .00

3.                                                                                     R                           3.                        .00

4.                                                                                     R                           4.                        .00

5.                                                                                     R                           5.                        .00

6.                                                                                     R                           6.                        .00

7.                                                                                     R                           7.                        .00

8.                                                                                     R                           8.                        .00

   Add amounts from Column E, lines 1 through 8 (add additional sheets if necessary). Enter here and on Form IT-40 
9. Schedule 4, line 3, or Form IT-40PNR Schedule E, line 3  _____________________ Total Amount Recaptured          9.                        .00

                                          *24100000000*
                                                            24100000000

                                                                 Schedule IN-CR Instructions

Use Schedule IN-CR if you have an income tax credit that must be recaptured           Non-qualified withdrawal. This is a withdrawal or distribution from a 
(paid back).                                                                          CollegeChoice 529 education savings plan that is: 
                                                                                      • not a qualified withdrawal; 
Important. The recapture of credits awarded by the Indiana Economic                   • a withdrawal or distribution from an account that is closed within 12 months 
Development Corporation (IEDC) should not be reported on this schedule.                 after the account is opened; 
You will be contacted by IEDC and/or the Indiana Department of Revenue                • a rollover distribution or transfer from the CollegeChoice 529 education 
regarding repayment or reduction of those credits.                                      savings plan to any other Code Sec. 529 plan or ABLE account. 

Currently, Indiana has two offset (non-refundable) credits that may need to be        For more details, get Information Bulletin #98 at www.in.gov/dor/3650.htm 
paid back:
•  CollegeChoice 529 Education Savings Plan Credit                                    Residential Historic Rehabilitation Credit Recapture
•  Residential Historic Rehabilitation Credit                                         An individual who has previously claimed this credit must repay it if certain 
                                                                                      conditions are met. 
CollegeChoice 529 Education Savings Plan Credit Recapture
An owner of a CollegeChoice 529 education savings plan     account who makes a        Specifically, the residential historic rehabilitation credit must be paid back if:
non-qualified withdrawal during the year must repay all or a part of any Indiana      • the property is transferred less than five years after completion of the 
tax credit allowed. The account owner must complete and enclose Schedule                certified preservation or rehabilitation work; or
IN-CR with his or her Indiana income tax return (Forms IT-40 or IT-40PNR).            • less than five years after completion of the certified preservation or 
                                                                                        rehabilitation, additional modifications to the property are undertaken that 
Account owner. The account owner is the individual or entity (such as an                do not meet the standards of the Office of Community and Rural Affairs.
individual, trust, estate, partnership, etc.) who has the right to select or change a 
beneficiary, and to control the distribution of the funds.                            Lines 1 – 9 Instructions
 
Qualified withdrawal. This is a withdrawal or distribution from a CollegeChoice       Column A
529 education savings plan account that is made:                                      Enter the name of the offset credit that is being paid back.
•  to pay for qualified higher education expenses; 
•  because of the death or disability of an account beneficiary;                      Column B
•  because an account beneficiary received a scholarship that paid all or part        Place an “X” in the box if the non-qualified withdrawal was based on a K-12 
   of their qualified higher education expenses;                                      contribution* to your CollegeChoice 529 Education Savings Plan Credit
•  because of a transfer of funds by the plan from one third party custodian to 
   another.                                                                           Column C
                                                                                      For the CollegeChoice 529 Education Savings Plan Credit, enter the account 
                                                                                      number(s) from which you made a non-qualified withdrawal(s). Enter any 
                                                                                      associated account or certification number if the recapture is for the Residential 
                                                                                      Historic Rehabilitation Credit. 

                                                           *24100000000*
                                                                           24100000000

Column D                                                                         Filing Requirements
Enter 3-digit code number 837 if the recapture is for the CollegeChoice 529      • If filing electronically, maintain a copy of this schedule with your records as 
Education Savings Plan Credit. Enter 3-digit code number 831 if the recapture is   DOR will request it at a later date. 
for the Residential Historic Rehabilitation Credit.
                                                                                 • If filing by paper, make sure to enclose a copy of this schedule to your 
Column E                                                                           individual income tax return, Form IT-40 or IT-40PNR.
• For the CollegeChoice 529 Education Savings Plan Credit, multiply the 
  amount of non-qualified withdrawal(s) made during the year for each 
  account listed in Column A by 20 percent (.20). Enter the result in 
  Column E.
*Important. If the non-qualified withdrawal was based on funds contributed to 
your 2018 K-12 account, multiply the non-qualified withdrawal by 10 percent 
(.10). Enter the result in Column E.

• For the Residential Historic Rehabilitation Credit, enter the total amount of 
  the credit previously claimed in Column E.

Example. John owns a CollegeChoice 529 Education Savings Plan Account 
he set up for his son. He made two $300 non-qualified withdrawals from this 
account during the year. He will multiply $600 times 20% and enter the $120 
result in Column E.

Example. Anna previously claimed a $1,200 Residential Historic Rehabilitation 
Credit. She sold the property on which the credit was granted less than five 
years from when the work was completed. She will enter the entire $1,200 in 
Column E.

Line 9
Enter the total of all amounts reported in Column E. Carry the total to Form
IT-40, Schedule 4, line 3, or Form IT-40PNR, Schedule E, line 3.

Attach additional sheets if you made non-qualified withdrawals or have credit 
recaptures from more than eight accounts or certifications.