K M W
Employee Tax Expert

Retirement tax questions

Under current laws, Pennsylvania allows contributions to Section 529 Tuition Savings Accounts to be claimed as a deduction.   Pennsylvania taxpayers can deduct up to $18,000 in contributions per beneficiary per year ($36,000 if married filing jointly, assuming each spouse had income of at least $18,000) from their Pennsylvania taxable income for the purposes of determining their state income taxes.

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