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April 4, 2020
Question

Grandparent contributions to grandchildrens' 529 savings plans in Maryland

  • April 4, 2020
  • 1 reply
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Our daughters hold 529 plans in the state of Maryland for their kids.  We all live in the state of Maryland.  My wife and I have contributed to those plans for our grandchildren.  Are those contributions deductible on our state taxes?

    1 reply

    April 4, 2020

    Yes.

     

    You can take a deduction of up to $2,500 per beneficiary on your state return.

     

    Maryland 529 plan

     

    You will make this entry when you go through the state interview section of the program.

     

     

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