529 Plan Contributions - State of Iowa deduction

Forum|Forum|2 years ago
January 21, 2024
2 replies
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I am trying to input 529 plan contributions for 2023 in the State of Iowa. On the state return, it only asks me for distributions from a 529 on Adjustments to Income section. I am never asked for 529 plan contributions. Can someone help?

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SteamTrain

Employee

@spmonahan5

two things...One, the Iowa state forms are really not ready for that entry yet.....depending on what exact form is used, it will be ready on either 1/25 or 2/8/2024. It can be entered now....but the $$ go to the wrong line (adds to income) because it's still using 2022 line numbers internally, and that won't be fixed until the Final forms are issued.....late Jan or early Feb.

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The I Interview page shown below...for Adjustments...they are all deductions.

When you do enter the $$ you go thru the IA interview, and you will get access, make entries for those contributions thru the following two pages:

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____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

spmonahan5Author

Thanks for the info! I'll wait for the updates to be made.

BillM223

Currently, most Iowa forms are scheduled to be released in TurboTax by 1/31/2024 with others by 2/8/2024.

HOWEVER, the schedules can and do change - usually later but occasionally sooner. Please check (daily) the State Form Availability page.

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u2jrmw

I think this is still broken. I enter my deduction of $4800 and my IA tax due increases...

Ignore me, it is fine, I have been looking at numbers for too long.

AmyC

Employee

I entered an Iowa return, got a figure, entered the education, the numbers moved correctly. Perhaps you have credit based on income that is being reduced. Take a look at your tax return before and after the entry and compare to see which lines have changed.

In desktop, switch to Forms Mode.
For online:
1. On the left side, select Tax Tools
2. Select Print center
3. Select Print, save or preview this year's return
4. If you have not paid, select pay now.

@u2jrmw

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