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Level 1
June 6, 2019
Question

Must I report a 529 that I set up for a grandchild? If so, how?

  • June 6, 2019
  • 1 reply
  • 1 view
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1 reply

Level 12
June 6, 2019

No, not on a federal return.

Contributions to a qualified college savings plan such as a 529 are not deductible (or reportable) on a federal return, but may be deductible on your state return.

If so, TurboTax will prompt you to enter your contribution(s) on your TurboTax state interview.