INvestABLE Indiana - State Tax Credit
From IHCDA's Jake's Desk Indiana’s INvestABLE program is designed to help individuals with disabilities save while preserving their SSI and Medicaid. To qualify for this unique program, one’s disability must have begun before your 26th birthday. The disability must be long term (lasting at least 12 months), and it must cause "marked and severe functional limitations." Additionally, you must meet one of the following criteria to open an ABLE account: You are eligible to receive SSI or SSDI You have a condition on the SSA’s List of Compassionate Allowances Conditions, OR You have a written diagnosis from a physician. All Hoosiers can benefit from this program, and beginning in taxable year 2024, any Indiana taxpayer who contributes into an INvestABLE Indiana account will be eligible for a state tax credit of 20% of total contributions, worth up to $500. Adults with disabilities may open and manage their own account . Minors and adults who need assistance can have an au
