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Contributions to a qualified college savings plan are not deductible on your federal return, but may be deductible on your state return. If your state allows a deduction, you will see the entry point as you work through the state return.
You can find more details here Information on 529 Plans
NOTE: If you file a South Carolina tax return, either as a resident or non-resident, you may be eligible for additional tax advantages2
If 529 is not deductible for Federal tax forms way is in included on the deductions sections. You are wasting the self prepared tax preparators time investigating. Please don't ad thing to the forms that are not applicable.
Does this still apply for 2020? I don't see a section for "education" under income.
Although contributions are not deductible, earnings in a 529 plan grow federal tax-free and will not be taxed when the money is taken out to pay for college.
The 1099-Q for the 529 plan deductions is entered in Deductions and Credits.
Here are thedirections for 1099-Q
Wrong information,
SC 529 Future Scholar program is 100% deductible from overall income and will reduce your tax
Please don't give incorrect information
SC 529 program is 100% deductible
@Rashid29 You are responding to posts that are almost 5 years old. A lot changes in 5 years.
It is still a problem with Turbo Tax software, it doesn't have that section and people might still be looking for it.
So, 5 years or more, Post is still relevant.
I'm not specifically familiar with your state software. The following is a "generic" answer.
There is no federal deduction for making a contribution to a 529 plan. Some states allow a deduction on the state return. If your state is one, it will come up in the state interview; usually in the "Here's how (your state) handles income differently" section.
it does not come in state interview, that was the original question about SC state 529 plan.
You can find where to enter the South Carolina deduction for contributions to the state 529 plan in the South Carolina interview, at the screen listing items that South Carolina treats differently. See screenshot below:
A state income tax deduction of up to 100% of contributions to a Future Scholar 529 plan is available for South Carolina taxpayers. If you file a resident or non-resident South Carolina state income tax return, you may be eligible for a tax-deductible contribution. See here for more information.
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