In addition to supporting student success and the IU Indianapolis causes you care about the most, making a gift to the Campus Campaign can result in tax savings that reduce the net cost of your gift.
A federal income tax charitable deduction may be available. Those who itemize and make a cash gift to charity may be able to deduct 30% of adjusted gross income (AGI) for contributions of non-cash assets, if held more than one year, and 60% of AGI for contributions of cash.
On the Indiana income tax return, taxpayers are allowed to take a credit of 50 percent of the contribution to an Indiana college or university or $100 (on a single or fiduciary return) or $200 (on a jointly filed return), whichever is less. View and download a printable copy of the Schedule CC-40 form for Indiana College Credit.
Please note this is not tax or legal advice and you should consult your tax advisor for advice on your particular situation. You may view detailed IRS regulations in Charitable Contributions, Publication 526.