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Level 1
posted Mar 16, 2021 12:55:14 AM

Oregon 529

Oregon offers a tax credit for 529 plan contributions, but I do not see the place to input this in TurboTax?

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1 Best answer
Level 10
Mar 16, 2021 2:41:06 PM

Take a look at Oregon credits and taxes

 

7 Replies
Expert Alumni
Mar 16, 2021 5:32:07 AM

As you go through the Oregon return, look for the screen titled "Here's the income that Oregon handles differently".

 

On that page, there will be a section for Investments.  Click Start beside Oregon College & MFS 529 Savings Plan & ABLE Deposit Account Carryover to enter your information.

 

 

Level 1
Mar 16, 2021 1:14:40 PM

When I follow that instruction, it prompts "Enter your Oregon College and MFS 529 Savings Plan and/or ABLE account deposit carryforwards below." The tax credit should be from contributions in the 2020 year and is not a carryforward from 2019 as it specifies. I have not seen a location to enter my 2020 contributions to the 529 plan.

Level 10
Mar 16, 2021 2:41:06 PM

Take a look at Oregon credits and taxes

 

New Member
Mar 10, 2023 11:32:32 AM

I accidentally entered my contributions for Oregon College 529 as carryover, and not as contributions. How do I delete/remove what I entered here in "Oregon College and MFS 529 Savings Plan and ABLE Account Deposit Carryover"

Expert Alumni
Mar 10, 2023 11:47:28 AM

In the Oregon interview, you will come to a screen 'Here's the Income that Oregon Handles Differently'. 

 

Revisit to delete your entries for the Oregon 529 Carryover.

 

@JonMichael16 

 

 

 

New Member
Mar 12, 2023 8:57:11 AM

I am not using Turbo Tax Deluxe, so my options are different. See image. When I click on edit, there is no option to delete. Thanks

Expert Alumni
Mar 12, 2023 5:34:25 PM

When you click Edit beside the Oregon College and MFS 529 Savings Plan or ABLE account deposit carryforward just go through the screens as if you are entering a carryover amount.  Then when you see the number entered previously, delete it.  

 

Keep going through the Oregon return to the section titled Take a look at Oregon credits and taxes to enter your contributions.

 

@JonMichael16