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New Member
posted Apr 4, 2020 5:30:04 PM

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

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2 Replies
Level 15
Apr 4, 2020 5:55:29 PM

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.

Employee Tax Expert
Apr 4, 2020 5:55:54 PM

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