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alvilla4
New Member

How do i report 529 carry over contributions

I have over contributions to my 529 from previous years that I have not reported as deductions yet.  How do I report this carry over contribution for this year's tax return?

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3 Replies
AnnetteB6
Employee Tax Expert

How do i report 529 carry over contributions

Contributions made to a 529 plan are entered as part of your state return.  Each state has different rules regarding carryover contributions, but if your state allows a carryover then the entry should be part of the 529 contributions page in your state return.  

 

If you are having difficulty finding that exact entry, please share the state you are filing and someone can guide you to the right place.  

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alvilla4
New Member

How do i report 529 carry over contributions

thank you for responding. this is for the VA State tax

MayaD
Employee Tax Expert

How do i report 529 carry over contributions

To report 529 carry over contributions on your VA return:

  1. Open your state return and continue to the screen Here's the income that VA handles differently
  2. Scroll to Education
  3. Select Commonwealth Savers (Section 529) plan
  4. Answer Yes We've had one of these 529 plans  and continue 
  5. On the following screen check the box for the contributions carry over

 

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.

VA529

 

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