I own a 529 savings plan I contributed to for my grandson. He used the entire contents of the account in 2024. How do I get a credit for this on my 2024 tax return?

Forum|Forum|1 year ago
March 25, 2025
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A check for the contents of the account was sent to me by the state. I sent the proceeds from the account to my son to use for tuition.

TurboTax Online

MayaD

529 contributions are not tax-deductible on your federal tax return, many states offer a state income tax deduction or credit for contributions made to 529 plans, but the specific rules and amounts vary by state.

As for the Education credits, you might qualify if you're claiming your grandson as a dependent on your income tax return and you paid for some education expenses out of pocket. You can't claim credits for education expenses paid for with 529 funds.

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