AmyC
Expert Alumni

State tax filing

If you had taxable income invested in the plan that portion can be deducted, not earnings.   Section 529 Plans - Illinois.gov states:

In the case of a rollover, as defined under IRC Section 529(c)(3)(C)(i), in which an amount is transferred from a qualified tuition program established and maintained by another state to an Illinois qualified tuition program, only the portion of the rollover that constituted investment in the account for federal income tax purposes shall be considered a contribution for purposes of IITA Section 203(a)(2)(Y) and this Section.

 

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