MichaelG81
Expert Alumni

Deductions & credits

It depends, if you are enrolled in a Illinois state approved 529 program. Also, if you receive a form for your contributions or are they going to the person who owns the 529? Contributions in Illinois are deductible for single taxpayers and more for married couples. Grandparents may deduct at the state level for Illinois, if basic rules are met for contributions. $10,000 for Single Illinois Taxpayers and $20,000 for Married Joint Filers is the maximum deductible amount in Illinois. 

@Rbroch1 

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