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trymytax
February 19, 2021
Question

Which tax solution shoud I file under if I donate to 529 funds?

  • February 19, 2021
  • 1 reply
  • 0 views
Are 529 donations covered in live basic solution?

1 reply

J
jtax
Employee
February 19, 2021

Donations to 529 plans are not deductible for federal taxes. Some states allow for a deduction.  There are no separate editions for states, so any version of TT should do.

 

What state do are you filing in?

 

If your state is one of those, pay very careful attention to the TT state interview and it will ask you about that and make the appropriate entries. 

 

Here is a previous discussion of this issue: 

 

https://ttlc.intuit.com/community/state-taxes/discussion/where-do-i-enter-contributions-to-a-529-plan/00/755229

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