Where can I report an Indiana private school/home school deduction in Drake Tax?
To enter the IN private school/home school deduction in Drake Tax, go to the Indiana Data Entry > Deductions tab > SCH2 screen. On line 8 of the SCH2 screen, there is a Private School/Home School Deduction. Enter the number of qualifying dependents on which the deduction should be calculated.
The software will automatically calculate the allowable deduction on line 8 of Indiana Schedule 2 in View/Print mode:
Per the IN IT-40 Instructions:
"You may be eligible for a deduction based on education expenditures paid for each dependent child who is enrolled in a private school or is homeschooled.
Dependent Child Qualifications
- Your dependent child must be eligible to receive a free elementary or high school education (K-12 range) in an Indiana school corporation;
- You must be eligible to claim the child as a dependent on your federal tax return; and
- The child must be your natural or adopted child or, if not, you must have been awarded custody of the child in a court proceeding making you the court appointed guardian or custodian of the child."
For more information on the private school/homeschool deduction or the SCH2, see the IN IT-40 Instructions or Related Links below.