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ESA
I opened and Education Savings account for my Grandchildren - can the amount be used to reduced income and where do I enter it on Trubo Tax
March 20, 2020
9:47 AM
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Education
No, contributions to an Education Savings Account are not deductible on the federal tax return. The amounts grow tax free, but that is the only federal tax benefit.
Some states have credits or deductions for these plans, so watch for that when you do your state return.
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March 20, 2020
10:06 AM
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Education
For a list of states, that allow a deduction, see:
Some will only allow the parents a deduction.
March 20, 2020
10:52 AM