If 70 years old can I deduct $4000 for a VEST account?

combsrss2002 — Sat, 21 Feb 2026 17:45:23 GMT

What the rule for VEST contribution deductions?

Re: If 70 years old can I deduct $4000 for a VEST account?

Mike9241 — Sat, 21 Feb 2026 17:49:57 GMT

sorry have no idea what a Vest account is. probably state-specific, so could you provide more details, including the state?

Re: If 70 years old can I deduct $4000 for a VEST account?

DoninGA — Sat, 21 Feb 2026 17:50:32 GMT

Yes, if you are a Virginia resident and are 70 years old or older on or before December 31 of the tax year, you can deduct the entire amount contributed to a Virginia529 inVEST account (or other Virginia529 plans like Prepaid529 or CollegeWealth) on your Virginia state income tax return.

While the standard deduction for people under 70 is capped at $4,000 per account, the rule for those 70+ allows for a 100% deduction of the contribution.

Key Details for 70+ Year Olds (Virginia State Tax):

No Cap: You are not limited to the $4,000 cap that applies to younger taxpayers; you can deduct the full amount contributed, even if it exceeds $4,000.
Carryforward: If you cannot use the full deduction in one year, you can carry forward any undeducted amounts to future tax years.
Owner Requirement: You must be the owner of record for the account to claim the deduction.

Important Notes:

This is a Virginia state tax deduction, not a federal tax deduction.
The deduction is only applicable if you pay Virginia state income taxes.

topic If 70 years old can I deduct $4000 for a VEST account? in Deductions & credits

If 70 years old can I deduct $4000 for a VEST account?

Re: If 70 years old can I deduct $4000 for a VEST account?

Re: If 70 years old can I deduct $4000 for a VEST account?