Maryland 529 deduction

Forum|Forum|1 year ago
February 8, 2025
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If i live in maryland where carry over exists for 10 years and i contribute 10k to a 529 in a previous year( within that 10 years) but did not claim it in the following year because I did not realize the carry over rule, am I able to deduct this year? It has been longer than 3 years so I dont think I can file an amended return.

SabrinaD2

Yes, you're likely correct that since it's been more than 3 years, you probably can't amend an old return for a credit.

But if the credit has a 10-year carryover, you should still be able to use it this year.
Since you didn't claim your $10,000 contribution, you can likely still deduct up to $2,500 per year (or $5,000 if married filing jointly) for the remaining years within that period.

For more details, check out the Maryland 529 Plan Tax Advantages.