Can I still contribute to oregon 529 college plan now to reduce my taxes for 2016?

[IreneS · Accepted solution]

UPDATED FOR TAX YEAR 2019

Yes - According to the Oregon College Savings Plan website:

As an Oregon taxpayer, you are eligible for the 2019tax deduction as long as the contribution is made prior to filing your 2019 state tax return or April 15, 2020 whichever comes first.

For 2019, you can subtract up to $4,865 for joint returns or up to $2,435 for all other returns for contributions made to a 529 Oregon College Savings Network account in 2019. If you contribute more than your limit, you can carry forward the remaining contribution not subtracted over the next four years.

Beginning January 1, 2020, the Oregon College Savings Plan is moving to a tax credit.  All Oregon taxpayers are eligible to receive a state income tax credit up to $300 for joint filers and up to $150 for single filers on contributions made to their Oregon College Savings Plan account. The tax credit goes into effect on January 1, 2020, replacing the state income tax deduction, and provides the same maximum credit to all Oregonians who are saving for college, community college, trade school, or any other post-secondary education through the Oregon College Savings Plan.

[Edited | 4/13/2020 | 8:41am PDT]