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Turbotax limiting our Virginia 529 deduction

Restating my question from yesterday.  My husband contributed $4000 to each of our 4 grandchildren's 529 accounts, each with their own ID, for a total of $16,000.  Turbotax is limiting our deduction on Virginia state taxes to $12,000.  Why?  We have plenty of AGI to apply it to.  Is this a bug?

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4 Replies
AnnetteB6
Expert Alumni

Turbotax limiting our Virginia 529 deduction

If you could provide a diagnostic copy of your return then we can examine the situation in more detail.  

 

Use these steps if you are using TurboTax Online:

  • Sign in to your account and select Take me to my return.
  • Select Tax Tools in the menu to the left.
  • Select Tools.
  • Select Share my file with agent.
  • A pop-up message will appear, select OK to send the sanitized diagnostic copy to us.
  • Post the token number here. 

If you are using a CD/downloaded version of TurboTax, use these steps:

  • Select Online at the top of the screen
  • Select Send Tax File to Agent.
  • Click OK.
  • Post the token number here.
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Turbotax limiting our Virginia 529 deduction

No the tips did not help.  I finally erased all my entries, saved and closed the return, reopened turbotax and reentered all my figures.  Somehow that worked.

CARSWSC
Returning Member

Turbotax limiting our Virginia 529 deduction

I'm having the exact same problem this year.  I'm the account owner of three different Virginia 529 accounts.  I have an account for each of my three sons.   I contributed $4K to two accounts and $2K to one account---$10K total contributions in 2021.  When I entered this info into TurboTax, I only got a $6K deduction.  Per the Virginia tax law, I should get the $10K deduction.

 

I had this same problem last year.  the TuboTax technician gave me a work around.  can you fix this bug? 

CARSWSC
Returning Member

Turbotax limiting our Virginia 529 deduction

I did the same thing that smlmom described above and it worked.  I deleted my three previous entries and just re-entered things.  my total deduction amount is correct !!!    THANKS SMLMOM

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