I entered my 2023 Iowa state 529 contribution in the adjustments to income section and my refund decreased. It should increase the refund not decrease it.

Forum|Forum|2 years ago
January 7, 2024
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TurboTax Online

Best answer by Hal_Al

Be sure you entered it correctly. For, Iowa, you enter at the "Do You Have Any Personal Adjustments?" screen. Select Yes at the bottom and the next page will have a field to enter College Savings Iowa, up to $3785 per Beneficiary (2023) $4028 for 2024).

Don't go by the "Refund Meter" at the top of your screen. It's not always accurate as you go along. At the end, check your actual forms for see if the deduction was applied.

Anonymous_

Employee

I'll page @Hal_Al

Hal_AlAnswer

Employee

Don't go by the "Refund Meter" at the top of your screen. It's not always accurate as you go along. At the end, check your actual forms for see if the deduction was applied.

PbrinkheideAuthor

It was entered correctly, but I was going by the refund meter at the top of the screen. Might want to correct the refund meter.

LRICK

I'm having the same problem with the Iowa 529 contributions. When I enter the contribution amount it says I owe additional taxes but it should be the other way. I thought based on another comment it was an error in the refund meter at the top shown at the top of page but when I did the review it still showed taxes due on the 529 contributions.