The information entered goes to WI schedule CS - WI College Savings Accounts. Line 17 shows the allowable subtraction and line 18 will show if you have any excess to carryover. The line 17 amount carries to Schedule SB line 10. That amount is added in with others to be carried to Form 1, line 4.
There are two kinds of 529 plans and the most common is the 529b. A 529b is a part of the 529. See Wisconsin 529 College Savings Program for details on the state and 529 treatment. To enter, follow these steps:
- go to the summary page, Your 2021 WI taxes are ready for us to check.
- Select Income, Edit.
- Additional WI adjustments? No
- Here's the income WI handles differently screen
- Scroll down to education and select College Savings Account, revisit
- You will probably edit your entry here or create new
- College savings program, yes
- enter your grandchild's name
- select B -contribution to Other's account
- enter account information
- enter amount contributed
If you contribute more than you can deduct, you can carryover the amount in excess to the next year. The program handles it for you.
You would not enter your social since it is already in the program as the taxpayer.
Related:
529a vs 529b Saving for School: 529 Plan Tips - Rootworks
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