Can I select "NO" for 529 contributions since I know I don't qualify due to income even if I did have contributions?

posted

There is no federal deduction or credit for making a contribution to a 529 plan.

Some states have deduction or credit. If yours is one, it will come up in the state interview. It should be a simple entry. There may even be a carryover feature if you don't qualify this year. Without knowing your state, I can't imagine a reason not to enter it.

If you are referring to the state tax deductions, if you are sure you do not qualify you can select "no".

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I want to continue tracking my roth IRA basis in 8606. I have tracked this in lines 22 and 24, but it is not populating. How do I populate these fields in the 8606?

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Can I select "NO" for 529 contributions since I know I don't qualify due to income even if I did have contributions?