You'll need to sign in or create an account to connect with an expert.
To enter your contributions:
CHET is a state-sponsored, tax-advantaged 529 college savings plan that's helping families and individuals plan for the cost of higher education. Connecticut families can take an income tax deduction (up to $5,000 for single filers, $10,000 for joint filers) on contributions to CHET accounts
There appears to be an issue with TurboTax and the Connecticut State Return. Connecticut 529 contributions are tax deductible at the state level, but there is no Education section or 529 Contribution deduction on the State tax summary page. If you let the system walk you through the deduction process though, step by step, it will eventually ask you if you made contributions to a 529 (in the income section, not the credits and taxes section). Someone at TurboTax should fix this.
The same issue is happening for Virginia, the software says "I've got everything, lets review" as soon as I switch from the Federal but I can't find a place to put in my contributions. I'm annoyed that the price of the software keeps increasing every year, but this issue still hasn't been fixed. I never get a statement that says "here's what Virginia handles differently"
Now I have to go back and check last years return to see if I was able to fix it then!
To report 529 carry over contributions on your VA return:
Invest529 account owners who are Virginia taxpayers may deduct contributions up to $4,000 per account per year with an unlimited carryforward to future tax years, subject to certain restrictions.
How do you do the carry forward please? I've contributed more than $5,000 in 2024, but the program doesn't let me enter more than that. How will TurboTax 2025 next year know that I have additional contributions carried forward from 2024?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
tiffenyscook
New Member
disgruntled2
Level 1
wresnick
New Member
manwithnoplan
New Member
bhsong206
Level 2