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New Member
posted Mar 1, 2021 10:09:36 AM

Where can I enter the $2400 I contributed to my grandsons' 529 account?

I am unable to find where in Turbo Tax for SC I can enter this amount. I know it is deductible from state taxes.

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2 Replies
Level 15
Mar 1, 2021 10:47:26 AM

I'm nor familiar with the SC soft ware, in particular, but here's the generic answer:

 

There is no federal deduction for making a contribution to a 529 plan. Some states allow a deduction on the state return. If your state is one, it will come up in the state interview; usually in the "Here's how (your state) handles income differently" section. For a list, see:

http://www.savingforcollege.com/compare_529_plans/index.php?page=compare_plan_questions&plan_question_ids[]=437&order_by=plan_question_437

Expert Alumni
Mar 1, 2021 10:56:38 AM

In your South Carolina return look for the screen, Here's the income that South Carolina handles differently.  The Education section should be right below Retirement.  [See Screenshot #1, below]

 

If you do not see the Education section there, look up under the screen title.  If you've opened the Education screen before it may appear at the top, for easy reference.  [Screenshot #2]

 

Screenshot #1

 

Screenshot #2