529 Plan Georgia

Forum|Forum|2 years ago
February 16, 2024
1 reply
0 views

Hi,

I have a question related to the 529 plan in Georgia. We want to open an account for our kids and start contributing this year. If we open and contribute by April 18 2024, can we use the Ga tax deduction for our 2023 taxes?

Thanks,

Cristina

TurboTax Home & Biz Windows

KrisD15

Yes but the contribution must be made by April 15th 2024.

Last year the date was extended to April 18th because of the weekend and holiday, but for Tax Year 2023, the deadline is April 15th, 2024.

According to the state of Georgia:

“For purposes of this paragraph, contributions or payments for any such taxable year may be made during or after such taxable year but on or before the deadline for making contributions to an individual retirement account under federal law for such taxable year.”

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"