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J
jennkenn50
May 14, 2021
Question

I pay $2400 yearly into my daughter's 529. Can i claim this and if so, where would i enter this information?

  • May 14, 2021
  • 1 reply
  • 0 views
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1 reply

H
HelenC12
May 14, 2021

For federal income tax purposes: Contributions are not deductible, earnings in a 529 plan grow federal tax-free and will not be taxed when the money is taken out to pay for college.

 

However, some states let you deduct all or part of your 529 plan contributions. If your state is one of those states, we'll prompt you to enter your 529 contributions when you get to the credits & deductions portion of your state taxes.

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