Michigan 529 Plan

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Can I claim a gift contribution from someone else that's made into my Michigan 529 Plan?

Hal_AlAnswer

Level 15

Expert Reviewed

Q. Can I claim a gift contribution from someone else that's made into my Michigan 529 Plan?

A. No. Only the person making a contribution can take the deduction. But, that person can do so even though you are the owner of the 529 plan. The most common example: the grandparent can take a deduction, on their MI return, for making a contribution to a 529 plan owned by the parent.

xmasbaby0

Level 15

Claim the contribution for what, exactly? Gifts you receive are not entered on your tax return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

rciccotelliAuthor

Level 2

Contributions into a 529 plan are deductible on state taxes. Someone cane make a contribution into it and they are called gift contributions,

xmasbaby0

Level 15

Someone more familiar with the rules for this in MI will need to respond. You have not mentioned whether the money was put directly into the fund by the donor, or if the money was just given to you and you put it into the fund.