Where do I mention VA529 contributions to get tax deduction? website says "account owners may deduct contributions up to $4,000 per account per year"

[GiseleD]

According to Tax Expert SusanY1, these are entered into the Virginia program on the screen that will read Here's the income that Virginia handles differently across the top. Click Start beside Virginia College Savings Prepaid Tuition (Section 529) Plan to enter the contributions (even if you didn't use the prepaid plan specifically, this is where your contribution will go.)  

[margaretstevens1946]

Where on

the 2020 VA tax form do I list my contributions to VA529 accounts?

[gloriah5200]

The contribution comes out of your VA refund, so it is an election to make after you see how much refund you will receive

You may contribute all or part of your income tax refund to one or more existing Virginia529 or ABLEnow accounts by completing Schedule VAC.

Any contribution(s) made will be deemed a contribution to either a Virginia529 or ABLEnow account(s) for the 2021 taxable year.

The election is on Part I of the VA 760 to choose to deposit your refund to the account indicated.

Part I, Section A

Enter the overpayment amount computed on your return less the amount credited to estimated tax for next year.

Part I, Section B

For each contribution, provide the Program Type Code (see codes below), beneficiary’s last name, and account number.

In addition, provide the routing number if you are making a contribution to a CollegeAmerica account.

Contact your financial advisor to obtain the proper account number and routing number for a CollegeAmerica account.

For contributions to

Prepaid529,

Invest529,

CollegeWealth and

ABLEnow accounts,

use your Virginia529 or ABLEnow account number for each. Program Type Codes:

1 = Invest529

2 = Prepaid529

3 = CollegeWealth

4 = CollegeAmerica

5 = ABLEnow

If contributing to more than 5 accounts, use the supplemental schedule, Schedule VACS, to provide the information for additional accounts

Please refer to page 25 of the following link for additional information:

Virginia 529 contributions from refund