Individual Housing Account Payments
Payments to an Individual Housing Account (IHA) in Hawaii can be claimed as a subtraction on your state tax return. These payments are designed to support housing-related expenses and may reduce your taxable income for the year.
How to Claim IHA Payments
- Payments to an IHA are reported as a subtraction on your Hawaii state tax return.
- To claim this subtraction, navigate to the "State" section in the OLT (Online Taxes) software.
- Select "Start or Revisit Hawaii State" and proceed to the "Subtractions" section.
- Locate "Payments to an Individual Housing Account" and follow the on-screen instructions to enter the amount.
Important Notes
- Only payments made to an IHA during the taxable year are eligible for subtraction.
- The subtraction is available for individuals subject to Hawaii’s net income tax under chapter 235, HRS.
- Ensure you have proper documentation of the payments made to your IHA.
Source:
Form N-586 Instructions
Form N-15 Instructions
Form N-348
Disclaimer: Always verify details with the official forms and instructions from the Hawaii Department of Taxation or your local tax authority.