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January 22, 2024
Question

I have several grandchildren in college that I fund thru a 529 program. Do I deduct the contribution individually or collectively?

  • January 22, 2024
  • 1 reply
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1 reply

Hal_Al
Employee
January 22, 2024

There is no federal deduction for making a contribution to a 529 plan.

 

Some states allow a deduction on the state return. If your state is one, it will come up in the state interview; usually in the "Here's how (your state) handles income differently" section. Most states allow a deduction for each beneficiary.  

If it's not self explanatory, when you reach that page/screen, post a new question, identifying the state.