AmyC
Expert Alumni

State tax filing

Yes, IF you meet the requirement on page 15 of the MO 1040 instructions which state:

 

 

LINE 11 - EXEMPT CONTRIBUTIONS MADE TO A QUALIFIED 529 PLAN The state of Missouri allows a subtraction from federal adjusted gross income for the amount of annual contributions made to the Missouri Savings for Tuition Program (MOST), or any other qualified 529 plan. The maximum annual exempt contribution is $8,000 for single individuals or $16,000 for married couples filing a combined return.

 

If you contributed to MOST, or any other qualified 529 plan and are claiming the subtraction on your Missouri income tax return, please attach one of the following with your return:

• Statement from program manager showing contribution in the name of the individual claiming the subtraction,

• Bank statements reporting/verifying the contribution date and contribution amount,

• Copies of canceled checks,

• Other supporting documentation verifying the name of the individual who contributed to the MOST 529 account, contribution dates, and contribution amounts.

 

The documentation verifying contributions must be in the name of the individual claiming the subtraction.

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