turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Can i deduct for making a Virginia 529 lump sum prepaid tuition

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MinhT
Expert Alumni

Can i deduct for making a Virginia 529 lump sum prepaid tuition

Contributions to a 529 plan are not deductible on your federal tax return.

 

On your Virginia return, they are deductible up to $4,000 per account per year with an unlimited carry forward to future tax years, subject to certain restrictions. Those age 70 and above may deduct the entire amount contributed to a Virginia 529 account in one year.

Please read this document on Virginia529:

https://www.virginia529.com/new-savers/tax-advantaged/

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies