You'll need to sign in or create an account to connect with an expert.
No, there is no deduction or credit for the decrease in the account balance of a U. Fund 529 College Savings Plan. It is a tax deferred account so you do not pay tax on qualified withdrawals, nor can you deduct losses (whether realized or unrealized).
No, there is no deduction or credit for the decrease in the account balance of a U. Fund 529 College Savings Plan. It is a tax deferred account so you do not pay tax on qualified withdrawals, nor can you deduct losses (whether realized or unrealized).
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Terra
Level 3
kash9
Returning Member
kash9
Returning Member
tuxedorose
Level 4
tuxedorose
Level 4
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.