We build the house. You take the credit.
Thanks to the State of Indiana’s Attainable Homeownership Tax Credit, facilitated through Habitat for Humanity of Indiana, your donations are eligible for a tax credit equal to half their value.
This is a fantastic opportunity to make a significant impact on our local community while benefiting from substantial tax savings. The process is straightforward and can make a big difference. Download and complete the the tax credit form below.
Who
Tax credits are available for qualified individual taxpayers, small businesses, or corporations in Indiana that donate to Habitat for Humanity of Indiana. You can review the qualifications for eligible donors below.
What
Tax credits may be used to offset individual income taxes or business taxes in the tax year the donation is made beginning in 2024. Eligible donations may be cash, check, credit card, stocks and bonds, or land.
How
The tax credit is equal to 50% of the donation made to Habitat. For example, a $1,000 gift qualifies you for a $500 tax credit on your Indiana State income tax return. There is a cap of $10,000 in tax credits (for a $20,000 donation) allowed per tax year, but unused credits may be carried over for up to 5 years.
The minimum donation is $1,000 for $500 in tax credits, and the maximum is $20,000 for $10,000 in tax credits.
Where
To process the tax credits, donations must be made to Habitat for Humanity of Indiana. Please include the name of the Habitat Affiliate Designation, Habitat for Humanity of Clark & Floyd Indiana, on your tax credit form to ensure your donations benefit Habitat for Humanity of Clark & Floyd Indiana.
Donate
Checks must be sent with a completed tax credit form! Contact us at 812-948-1235 or donor@habitatcfi.org regarding any questions.
Eligible Donors & Donations
Individual Donors
Individuals may donate to Habitat for Humanity of Indiana and receive an Attainable Homeownership Tax Credit. Include the name of the individual donor claiming the credit on the form.
- Married couples filing jointly should have the Primary Taxpayer listed on this form. A maximum of $10K in Attainable Homeownership Tax Credits is allowed on a joint tax return.
Small Business & Corporations
Small businesses and corporations are welcome to make tax credit-eligible contributions. However, additional steps or information are required when reporting these contributions:
- If a business or corporation is making the donation, the business/corporation’s information should be entered into the Donor Contribution Form. The organization’s owner or stockholders must NOT claim the tax credits on their individual/personal tax returns.
- If the credit is being claimed by a pass through entity (PTE), such as a partnership, limited liability company, S corporation, estate, or trust, the PTE needs to complete this and provide a K-1 to the owners/beneficiaries. Ex. If Organization Z is splitting $1,000 in credits from a $2,000 donation between 10 shareholders, Organization Z will need to provide a K-1 to the owners showing their share of the credit. Consult with your legal counsel to ensure compliance.
Eligible Donations
The following are donation types eligible for Attainable Homeownership Tax Credits. For additional information on each, or to check if another type of donation is eligible, please contact taxcredit@habitatindiana.org.
- Cash
- Check
- Credit Card
- Stocks and Bonds
- Donations of land/real estate with approval of local Habitat affiliate. Include a third party appraisal to with your completed tax credit form.
Tax Credit Information for Your Tax Preparer
All gifts will receive an acknowledgment letter from Habitat for Humanity of Indiana with the details needed to complete Schedule IN OCC on your IN state income tax return. Keep that acknowledgment letter with other important tax documents and give to your tax preparer to claim the tax credits.