I'm trying to enter 34,000 and Turbotax errors out on the state review telling me it must be reduced. It even shows the state form which says (Limit $18,000 per beneficiary, per taxpayer-spouse). Thus the limit is $36,000 if filing jointly. Confirmed on PA 529 website: "Effective January 1, 2024, the federal annual gift tax exclusion will increase to $18,000 for a single individual ($36,000 for married couples filing jointly)." https://www.pa529.com/pdf/gsp/GSP-Disclosure-Statement.pdf
I took a look at your tax return and see the issue. The issue is limited on a per person basis. Once you remove the full amount from one person and split it between you, the program will properly compute.
I have added screenshots of what you have and what you need to do.
Change to:
For 2024, Pennsylvania taxpayers can deduct up to $18,000 in contributions per beneficiary per year ($36,000 if married filing jointly, assuming each spouse had income of at least $18,000) from their Pennsylvania taxable income for the purposes of determining their state income taxes.
Sounds like we agree, I don't know how to convince turbotax to fix this.
I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:
TurboTax Online:
TurboTax Desktop/Download Versions:
*(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”)
If possible please post a screenshot of the token number to avoid having it caught in privacy filters.
I took a look at your tax return and see the issue. The issue is limited on a per person basis. Once you remove the full amount from one person and split it between you, the program will properly compute.
I have added screenshots of what you have and what you need to do.
Change to: