I live in Ohio and put $6000 in my grandsons Ohio 529 Education Account. Ohio gave me credit for $4000 on my Ohio return. What happens to the other $2000.?
I live in Ohio and put $6000 in my grandsons Ohio 529 Education Account. Ohio gave me credit for $4000 on my Ohio return. What happens to the other $2000.?
It carries over to next year and is deducted.
If you use TurboTax, that will happen automatically.
Note that both the $4000 this year and $2000 next year are deductions from income and not tax credits.
I live in Ohio and put $6000 in my grandsons Ohio 529 Education Account. Ohio gave me credit for $4000 on my Ohio return. What happens to the other $2000.?
It carries over to next year and is deducted.
If you use TurboTax, that will happen automatically.
Note that both the $4000 this year and $2000 next year are deductions from income and not tax credits.
I live in Ohio and put $6000 in my grandsons Ohio 529 Education Account. Ohio gave me credit for $4000 on my Ohio return. What happens to the other $2000.?
Short to the point answer...Appreciated!
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