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msteele40
March 15, 2020
Question

TurboTax Calculation - 529 Savings Plan - 2019

  • March 15, 2020
  • 1 reply
  • 0 views

I contributed $23.5K in 2019 to my kids (total of 2) savings plan.  In Turbotax do we claim the full $23.5k or $8K max ($4K per beneficiary).  Not familiar on how TurboTax calculates the deductions for State.

    1 reply

    KrisD15
    KrisD15
    March 15, 2020

    You may report the full amount of the contribution. This is entered on the State section of the program.

    If the state has a limit on the credit/contribution, the program will account for that. 

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      M
      msteele40Author
      March 18, 2020

      Thanks for the support!

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