DawnC
Employee Tax Expert

State tax filing

You get a prompt for all of the income item adjustments on one page.  

 

As you click through the VA state return, you will come to a page titled Here's how Virginia handles income differently.   When you are on that page, you can scroll down to the Education section and select Start next to Commonwealth Savers (Section 529) Plan.   

 

Virginia offers 529 Plans:
- Virginia Education Savings Trust (Invest529)
- Virginia Prepaid Education Program (Prepaid529)
- CollegeWealth (only through certain banks)
- CollegeAmerica (only through financial advisers)

 

The amount of the deduction depends on your age, how much you paid toward a prepaid tuition contract or contributed to a savings account this year and if your payments to these accounts in a prior year were more than the maximum deduction allowed.

 

VA 529 deduction.png

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