Education
The 529 plan contribution is non-deductible on your federal income tax return. Most states offer an income-tax deduction for contributions, but each state also has different rules about who can take the deduction for their contributions.
Illinois taxpayers can deduct contributions made to Illinois 529 plans up to:$10,000 per individual taxpayer and $20,000 for a married couple filing jointly To be deductible for a calendar year you must make the contribution before the end of that given calendar year.
Once you delete the Form 529 section of the return, then try clearing Cache before following the steps below:
- Select the State Taxes tab
- Proceed through the state interview section for Illinois, answering all questions on residency and income, until you get to at page "Here's the income that Illinois handles differently". See the screenshot below.
- Under Education, click on Start for "College savings and prepaid tuition plan contributions"
- On the next page, "College Savings and Prepaid Tuition Plans", enter your 2020 529 plan contribution amount in the box for "Bright Start College Savings Pool", If the contribution is a gift, check the box, and click on Continue.
