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Can I choose to deduct all CHET 529 contributions for 2023 part of 2024 tax return?
I entered CHET contribution of $10,000 and my state tax refund didn't change which I believe is because we had a higher than usual state income in 2023. That will not be the case in 2024 (I lost my job); can I choose not to report any CHET contributions part of our 2023 state tax return and report it next year part of our 2024 state income tax in hope that next year, with the lower income in 2024, the CHET contributions will get us some tax deductions/refund?
In other words, do I have to enter some CHET contributions for 2023 and report the rest in 2024 or I can hold on reporting the total amount of $10,000 part of 2024 state income tax?
THANKS!
‎February 21, 2024
7:54 AM