WE BUILD THE HOUSE
- YOU TAKE THE CREDIT
Take advantage of this opportunity to significantly
impact our local community while generating
substantial tax savings.
Great news for
Indiana state taxpayers! Individuals, couples, businesses, and corporations who
pay Indiana state taxes can deduct 50% of their contributions to Habitat for
Humanity
from their Indiana state tax liability.
This new tax-credit
program called the
Attainable Homeownership Tax Credit (AHTC),
will help Habitat build more homes for struggling families.
WHO:
Tax credits are available for qualified individual taxpayers, small businesses,
or corporations in Indiana that donate to Habitat for Humanity of Indiana.
WHAT:
Starting in 2024, these tax credits can be used to offset individual income or
business taxes in the year the donation is made. Eligible donations can
be checks and credit cards, land, stocks and bonds, or cryptocurrency.
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. A cap of $10,000 in tax credits (for a $20,000 donation) is allowed
per tax year, but any unused credits can be carried over for up to five 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, Starke/Pulaski
Habitat for Humanity, on your tax credit form to ensure your donations
benefit Habitat for Humanity of Starke & Pulaski Counties. Our development
director is available to answer any questions and assist you with completing
your form.
DONATE:
To participate, email smorrison@sphabitat.org
to receive your tax credit form. Checks must be sent with the completed tax
credit form to Habitat for Humanity of Indiana, 101 W Ohio St., Ste 2000,
Indianapolis, IN 46204. If you have any questions, contact us at 574-595-5227.
AHTC – Eligible Gifts
Eligible donations include cash, checks, stocks and bonds.
Please consult your tax advisor for specific guidance on tax credit giving from
donor-advised funds/trusts (DAFs) and qualified charitable distributions
(QCDs).
The
local Habitat affiliate must approve all land donations as suitable for their
use before being made. In addition to approval, a third-party appraisal must be
performed to establish the value.
Please
consult your tax advisor for specific guidance on tax credit giving.
Questions?
For additional information on each or to check if another
type of donation is eligible, contact Steve Morrison at (574) 595-5227 or smorrison@sphabitat.org.
To reach Habitat for Humanity of Indiana, which will process
your AHTC gift, contact Maggie Wimberly at (317) 454-8090, or taxcredit@habitatindiana.org.