I contributed $30,000 to a CHET account this year. TurboTax says it is too large. Should I enter the 10,000 limit or should I enter the full 30,000 this year?

Forum|Forum|6 years ago
February 2, 2020
13 replies
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TurboTax Premier Online

DaveF1006

Level 15

According to the following Turbo Tax link, Contributions are deductible for Connecticut income tax purposes up to $5,000 per year for a single return or $10,000 per year for a joint return. If you exceed this amount, you can carry over the excess amount for the five taxable years following the deduction.

So the answer to your question is, yes report the entire amount.

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JMPresser

Level 2

I contributed over the maximum to a CHET 529 account . From another's question I understand that I can carry over the overage for the next five years but the software will not let me do that as when I enter the amount I contributed the software will not let me advance until I put the maximum figure in. Will Turbotax still carry over the excess amount if i have not input it?