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June 6, 2019
Question

Can I deduct a gift made to a friend's 529?

  • June 6, 2019
  • 1 reply
  • 0 views
If so, is the deduction available if gift is made across state lines?

1 reply

Employee
June 6, 2019

Gifts are not tax deductible.  If it was over $14,000 you would need to file a gift tax return in most cases.  If under $14k, then no reporting is needed.

caseman04Author
June 6, 2019
Even though it is a contribution to a 529 college savings plan?