Deduction; rent payments
Sec. 6. (a) Each taxable year, an individual who rents a dwelling
for use as the individual's principal place of residence may deduct
from the individual's adjusted gross income (as defined in
IC 6-3-1-3.5(a)), the lesser of:
(1) the amount of rent paid by the individual with respect to the
dwelling during the taxable year; or
(2) two thousand five hundred dollars ($2,500).
(b) Notwithstanding subsection (a), a husband and wife filing a
joint adjusted gross income tax return for a particular taxable year
may not claim a deduction under this section of more than two
thousand five hundred dollars ($2,500).
(c) The deduction provided by this section does not apply to an
individual who rents a dwelling that is exempt from Indiana property
tax.
(d) For purposes of this section, a "dwelling" includes a single
family dwelling and unit of a multi-family dwelling.
As added by Acts 1979, P.L.70, SEC.1. Amended by P.L.14-1999,
SEC.1; P.L.192-2002(ss), SEC.77.
Last modified: May 28, 2006