For a Wisconsin 529 tax contribution in 2024, you can reduce your income by up to $5,000 for a married couple filing jointly. This is not a credit, but rather a deduction.
Here is how you can enter your Wisconsin 529 contributions.
- Navigate to the Wisconsin section of TurboTax (State Taxes > Your State Returns > Wisconsin)
- Continue until you arrive at the page with the heading Here's the income that Wisconsin handles differently
- Page down to Education
- Select "Start" College Savings Plan Contributions
- Answer the questions on the following pages regarding the Wisconsin College Savings Plan Contributions
Here is some more information on deducting 529 contributions: 529 Plans and Taxes: Deductions, Tax-Free Withdrawals & More
