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dedkin
New Member

My contributions to 529 college plan exceeded $32,000 in 2020. Why is my deduction only $4,421 on my PA income tax return?

 
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1 Reply
MarilynG1
Expert Alumni

My contributions to 529 college plan exceeded $32,000 in 2020. Why is my deduction only $4,421 on my PA income tax return?

There are limitations on deducting your contributions to a 529 Plan in Pennsylvania. A contributor is only able to claim a deduction up to the amount allowed under the annual gift limitation permitted by the Internal Revenue Code 

 

Since we can't see your tax return in the forum, I would suggest you review the worksheet in your state return to see how the amount of your deduction was calculated.  You will have to pay for TurboTax first to view all forms and worksheets.

 

Click this link for more info on 529 Contributions in Pennsylvania.

 

 

 

 

 

 

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