529 Tax Deductions by State [2024]

College Savings Plans Types and Benefits | H&R Block®

... state tax benefits from the contribution. In some cases, assets in a 529 plan may have a negative effect on a student's financial aid. For a distribution to ...

What are 529 plan contribution limits for 2024 - Kiplinger

Each state sets 529 plan contribution limits, which range from $235,000 to $575,000. ... When you purchase through links on our site, we may earn ...

529 college savings plans have even more benefits in 2024 - CNBC

This year, parents can gift up to $18,000, or up to $36,000 if you're married and file taxes jointly, per child without those contributions ...

Tax Benefits | ISave 529 Plan

For example, Iowa taxpayers can deduct up to $3,785 in contributions from their adjusted gross income for 2023 up to the tax deadline of April 30, 2024. Since ...

529 Plan Tax Benefits and Advantages - Learning Quest

Do contributions to IRC Section 529 college savings and tuition ...

... tax return if I live in another state but worked in Illinois? Answers others found helpful. Does Illinois allow a credit or deduction for college expenses?

Understanding 529 plans and their benefits - Bright Start

Footnotes · If the funds aren't used for qualified higher education expenses, a federal 10% penalty tax on earnings (as well as federal and state income taxes) ...

Tax Benefits of a 529 Plan | Learn - Virginia529

Virginia529 account owners who are Virginia taxpayers may deduct contributions up to $4,000 per account per year with an unlimited carryforward to future tax ...

Tax Advantages - my529

2024 Maximum Allowable Contribution for Utah State Income Tax Credit · 2024 Maximum Utah State Income Tax Credit per Beneficiary (4.55%) · 2023 Maximum Allowable ...

Compare the benefits of 529 plans over other savings options.

Wisconsin taxpayers can qualify for a 2024 state tax deduction up to $5,000 for each contributor per beneficiary per year from contributions made into an Edvest ...

The unique benefits of 529 college savings plans - The Tax Adviser

Beginning in 2024, beneficiaries will be able to make rollovers from 529 plans to Roth IRAs of up to a lifetime total of $35,000, subject to ...

DFI Wisconsin 529 College Savings Program

Maximum Account Contribution Limit: Wisconsin's maximum 529 plan contribution limit is $567,500 as the sum of all Wisconsin plan accounts for the same ...

529 Contribution Limits 2024: Maximums by State - NerdWallet

They range from $235,000 to $575,000. Many, or all, of the products ...

Colorado 529 Plan Tax Deduction Benefits for College Savings

For the 2023 tax year, the deductions are limited to $20,700 per taxpayer, per Beneficiary for single filers, or $31,000 per tax filing, per Beneficiary for ...

Direct Plan tax benefits - NY 529

**Contributions of up to $10,000 are deductible annually from New York State taxable income for married couples filing jointly; single taxpayers can deduct up ...

AZ Tax Advantages - Arizona's Education Savings Plan

Married couples can subtract up to $4,000 per beneficiary when filing jointly. · Single individuals or heads of household can subtract up to $2,000 per ...

Tax Advantages | Maryland 529

Maryland 529 Plan account owners are eligible for a unique tax benefit: an annual Maryland state income subtraction. Learn more about how it works here.

Tax Time Is Great Time To Review Ohio 529 Account

Also, the $4,000 state income tax deduction is per beneficiary, per year, with unlimited carry forward. So, if you contribute $4,000 to one ...

Key Tax Benefits Of 529 Plans By State

Hawaii offers no state income tax deduction for 529 plan contributions. Idaho. Taxpayers in Idaho can deduct up to $6,000 as an individual or $12,000 as a ...

Tax Benefits - IDSaves.org

You also may wish to contact directly your home state's 529 college savings plan(s), or any other 529 plan, to learn more about those plans' features, benefits, ...