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Education
Yes, if the rollover was to one of IL qualified plans, “Bright Start” program, the "College Illinois" Illinois Prepaid Tuition Trust Fund, or the "Bright Directions". Reference: https://tax.illinois.gov/questionsandanswers/answer.206.html
You can only deduct the contribution portion but not the earnings portion) of a rollover from another state's 529 plan.
Reference: https://brightstart.com/tax-benefits/#:~:text=If%20you%20recently%20moved%20to,of%20that%20given%20c....
March 12, 2024
10:36 AM