Making numbers simple, last year I rolled over $40k total (30K contributions plus 10K earnings) of PA 529 funds into the SC Future Scholar program. I know this rollover can be deducted from SC income, but is the full amount deductible 40k (contribution portion plus earnings) or only the contribution portion 30k? The instructions for line k are unclear:
Line k: Contributions to the SC College Investment Program (Future Scholar) or to the SC Tuition
Prepayment Program
You may deduct 100% of any contributions to the SC College Investment Program made between
January 1, 2023 and April 15, 2024.
You may deduct 100% of any contributions to the SC Tuition Prepayment Program made between
January 1, 2023 and December 31, 2023.
