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I live in Kansas, and have a 529 in Missouri for my oldest child. Can I enter those contributions in somewhere if I don't live or work in Missouri?

 
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IreneS
Intuit Alumni

I live in Kansas, and have a 529 in Missouri for my oldest child. Can I enter those contributions in somewhere if I don't live or work in Missouri?

UPDATED FOR TAX YEAR 2019

 

You can deduct 529 contributions to any qualified plan only on your KS return, since you are a KS resident. 

Kansas taxpayers may take an annual deduction of up to $3,000 ($6,000 for married, filing jointly) from Kansas adjusted gross income for contributions into each beneficiary's Learning Quest, Learning Quest Advisor, or Schwab 529 account or contributions to a 529 plan sponsored by any other state.

 

The state of Missouri allows a subtraction from federal adjusted gross income for the amount of annual contributions made to the Missouri Savings for Tuition Program (MOST), the 529 plan administered by the Missouri Education Deposit Program, or any other qualified 529 plan.  The maximum annual exempt contribution is $8,000 for single individuals or $16,000 for married couples filing a combined
return.   For more information see the instructions for the MO-1040 form.

[Edited | 4/10/2020 |  9:36am PDT]

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2 Replies
IreneS
Intuit Alumni

I live in Kansas, and have a 529 in Missouri for my oldest child. Can I enter those contributions in somewhere if I don't live or work in Missouri?

UPDATED FOR TAX YEAR 2019

 

You can deduct 529 contributions to any qualified plan only on your KS return, since you are a KS resident. 

Kansas taxpayers may take an annual deduction of up to $3,000 ($6,000 for married, filing jointly) from Kansas adjusted gross income for contributions into each beneficiary's Learning Quest, Learning Quest Advisor, or Schwab 529 account or contributions to a 529 plan sponsored by any other state.

 

The state of Missouri allows a subtraction from federal adjusted gross income for the amount of annual contributions made to the Missouri Savings for Tuition Program (MOST), the 529 plan administered by the Missouri Education Deposit Program, or any other qualified 529 plan.  The maximum annual exempt contribution is $8,000 for single individuals or $16,000 for married couples filing a combined
return.   For more information see the instructions for the MO-1040 form.

[Edited | 4/10/2020 |  9:36am PDT]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I live in Kansas, and have a 529 in Missouri for my oldest child. Can I enter those contributions in somewhere if I don't live or work in Missouri?

Hi, wanted to ask again

i live in KS. Work in MO. Have 529MO (MOST529)

 

i wonder how it works out. 
my understanding is I paid upfront state tax to MO, then MO will return it to me. 
Then eventually pay state tx to KS. 

Should I keep MOsT529 or should I contribute to Kansas 529?

thanks

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