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Can grandparents claim a 529 plan contribution for their grandson in Texas?
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Can grandparents claim a 529 plan contribution for their grandson in Texas?
Unfortunately, no.
529 contributions are not tax deductible at the federal level and Texas does not have state income tax on which to claim the deduction.
Generally, you cannot deduct these payments on an out of state tax return.
For more information, follow this link: https://www.texascollegesavings.com/
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Can grandparents claim a 529 plan contribution for their grandson in Texas?
Where do grandparents live?
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Can grandparents claim a 529 plan contribution for their grandson in Texas?
Texas
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Can grandparents claim a 529 plan contribution for their grandson in Texas?
Unfortunately, no.
529 contributions are not tax deductible at the federal level and Texas does not have state income tax on which to claim the deduction.
Generally, you cannot deduct these payments on an out of state tax return.
For more information, follow this link: https://www.texascollegesavings.com/
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