What is the Path2College 529 Plan deduction?

For tax years beginning on or after January 1, 2007, all taxpayers may contribute and deduct up to $2,000 to a Path2College 529 plan on behalf of any beneficiary regardless of their annual income. Georgia taxpayers are not required to itemize deductions to make this adjustment to income.

Contributions or payments for such taxable years may be made during or after such taxable year but must have been on or before the deadline for making contributions to an individual retirement account under federal law.

You may only deduct up to $2,000 per beneficiary, even if you contributed more than this amount during the taxable year.

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