I contributed to a 529 for my granddaughter, where do I note that?

Forum|Forum|6 years ago
June 4, 2019
2 replies
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I live in Nebraska

TurboTax Premier Online

Best answer by AnnetteB6

As you go through your Nebraska return, there will be a question on a screen titled Nebraska College Savings Plan. Answer Yes to this question and enter your information.

If you missed seeing that question the first time through your state return, click Update beside the Adjustments section to go through the screens until you find the question about the college savings plan.

AnnetteB6Answer

As you go through your Nebraska return, there will be a question on a screen titled Nebraska College Savings Plan. Answer Yes to this question and enter your information.

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john6969

I have three grandchildren. I setup and contributed to each of their 529 accounts, listing me as the owner. how do I claim all three contributions?

WendyN2

Unlike an IRA, contributions to a 529 plan are not deductible and therefore do not have to be reported on federal income tax returns. What's more, the investment earnings in your account are not reportable until the year they are withdrawn. 529 plans save taxpayers billions of dollars on their income taxes.