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Anyone entering Iowa 529 contributions for a deduction? I can't find where to do that.

In federal adjustments, there is a field to enter 529, but it didn't seem to affect my refund amount.
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3 Replies
MindyB
Employee Tax Expert

Anyone entering Iowa 529 contributions for a deduction? I can't find where to do that.

You shouldn't enter this in federal adjustments, 529 contributions are not a federal deduction. 

 

Here is how you can enter your Iowa 529 contributions.

 

  1. Navigate to the Iowa section of TurboTax (State Taxes > Iowa)
  2. Continue through the interview until you arrive at the screen Do You Have Any Personal Adjustments? Since College Savings Iowa or Iowa Advisor 529 Plan is listed, select "Yes."
  3. Enter the information from the 529 contribution on the line College Savings Iowa, up to $5,800 per Beneficiary

Here is some more information on deducting 529 contributions: 529 Plans and Taxes: Deductions, Tax-Free Withdrawals & More

Anyone entering Iowa 529 contributions for a deduction? I can't find where to do that.

The entry place in the federal section is for distributions (withdrawals) from  a 529 plan, not contributions to a 529 plan. 

AmyC
Employee Tax Expert

Anyone entering Iowa 529 contributions for a deduction? I can't find where to do that.

Follow these steps to enter Iowa 529 contribution in the state section:

  1. Open to your state return
  2. continue through until you see Personal Adjustments
  3. select yes
  4. Locate College Savings Iowa - this is the original name for Isave
  5. Enter your contribution amount

 

Reference: Isave

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