Questions & Answers

Can I deduct my Section 529 Qualified Tuition Program contributions?

If you contributed to an IRC Section 529 Qualified Tuition Program during 2018, you can take a deduction of up to $15,000 per beneficiary, per taxpayer that contributed. This means that if you and your spouse each contributed to a Section 529 Qualified Tuition Program, you may each take a deduction up to $15,000 per beneficiary.

You can't claim a deduction for a rollover of an account from one qualified plan into another qualified plan. You also can't claim a deduction for changing the beneficiaries within an account for a qualified plan.

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