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Tax Year Prior to 2020: I did not claim my 529 contributions last year, can I claim them this year?

 
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5 Replies
MargaretL
Expert Alumni

Tax Year Prior to 2020: I did not claim my 529 contributions last year, can I claim them this year?

No, you cannot, unfortunately.  You can only deduct the contributions in the year they are made for 529 plans. Also, please note that 529 contributions are never tax deductible on federal tax return.  Some states allow this deduction, you would have to amend your state tax return for prior year if your state allows it.

Tax Year Prior to 2020: I did not claim my 529 contributions last year, can I claim them this year?

Does Connecticut allow an amended form & how many years can I amend?

CatinaT1
Employee Tax Expert

Tax Year Prior to 2020: I did not claim my 529 contributions last year, can I claim them this year?

Yes.  You can amend up to 3 years of past returns.

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Tax Year Prior to 2020: I did not claim my 529 contributions last year, can I claim them this year?

Can Turbo Tax help me Amend my 2018 1040CT?

I want to enter my 529 contribution 

WKins2
Expert Alumni

Tax Year Prior to 2020: I did not claim my 529 contributions last year, can I claim them this year?

If you have 529 deductions that you did not claim on your 2018 and would like to, you can filed an amended return to claim them. Do not report them on your 2019 return since they are for 2018. 

 

If you already filed your return you will need to wait to see if it was rejected or accepted. If they were rejected, you are able to login to your return to correct the errors that caused the rejection and then re-file your return. If your returns were accepted, then you will need to file an amended return. You should not try to amend your return until the original return it has been fully processed and you have received your refund or your payment has cleared.
Amended returns do not “catch up” to your original return and replace them; they are processed as two separate returns.  

 

Amended returns have to be printed and filed by mail.  It can take the IRS up to 12 weeks or longer to process them.   If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it.  If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return.

 

You can check the status of your amended return by clicking here: https://www.irs.gov/filing/individuals/amended-returns-form-1040-x-/wheres-my-amended-return-1

 

Click here for amending instructions: https://ttlc.intuit.com/replies/3288565

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