Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 23, 2024 7:13:29 AM

It seems Turbotax 2023 does not support deductions for 529 contributions in NJ taxes.

0 1 215
1 Replies
Expert Alumni
Feb 23, 2024 7:25:34 AM

Open your NJ state return, continue until you get to the screen New Jersey College Affordability Deductions.

 

For Tax Year 2022 and forward, The New Jersey College Affordability Act allows for three Income Tax deductions for those who file tax returns showing gross income of $200,000 or less. Deductions include contributions to an NJBEST 529 savings plan, payments made for an NJCLASS student loan, and tuition costs for New Jersey colleges and universities.