I cannot enter the amount I contributed to my child's 529 plan on my MI state return. It's saying there's a max amount. What do I do?

If there is a max (which I don't think there is), shouldn't it be for each child? Schedule 1 Line 17 says <=10,000 but I deposited more than that for each. Perplexed.

405

Expert Alumni

Mar 14, 2021 3:24:59 PM

Deductible contributions to a Michigan 529 plan are limited to $10,000 for married couples filing jointly or $5,000 for individuals filing single per year. This is total, not per account.

Enter only $10,000 or $5,000 even if you contributed more. TurboTax will give you an error if you exceed those amounts, as those are the deductible limited.

Related Resource:

About 529 Plans: Is there a Michigan income tax deduction?

New Member

Apr 16, 2021 12:03:39 PM

I want to know the maximum I can claim on 529 college savings program?

Expert Alumni

Apr 16, 2021 3:37:04 PM

@kinatukara the Michigan limits are posted above your comment so I think you are in a different state. Where are you?

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I cannot enter the amount I contributed to my child's 529 plan on my MI state return. It's saying there's a max amount. What do I do?