Where do I enter contributions to a 529 plan?

[pheish123]

Contributions to 529s in NC are not tax deductible.  They are tax-free when withdrawn.

[Decana]

Apparently TT fixed it so we can't hack the answer this way in 2021. Hope that someone has a way to include it in this year's state form.

[Decana]

My state does allow us to claim 529 deductions from any state.  There's no place to add that in TT 2021.

[LenaH]

Can you clarify what state you reside in so I can instruct you on the appropriate steps for your state return? 

@Decana

[Decana]

TT must have changed it in the 2021 tax forms. No way to change federal form from state screen.

[Decana]

Missouri

[Decana]

I live in Missouri and have an Oregon College Savings Plan.

[LenaH]

Missouri offers a state tax deduction for contributions to a 529 plan (both Missouri and non-Missouri) of up to $8,000 for single filers and $16,000 for married filing jointly tax filers.

To enter your contributions into your state return, please follow the instructions below:

1. Open your return.
2. Click on State on the left-hand side.
3. Edit your Missouri return.
4. Continue through the return.
5. On the screen You've Finished Your Missouri Return, click Update to Taxes & Credits.
6. Continue through the screens until you get to Savings for Tuition Programs. Answer yes. 
7. Enter the contribution amount on the screen Education Savings Funds.

@Decana

[Decana]

The problem is that there's a following screen that reads, "Deposits to Missouri's 529 Plan" that requires account numbers. Since I have an Oregon plan, the account numbers don't work. Also, there's no place to indicate that these are out-of-state plans.

[Decana]

I did a state form review and it went through without the account numbers of any documentation of 529 contributions.  I'm going to file it!

[KrisD15]

States usually only offer credits to contributions to plans of that state. 

If this plan is an Oregon plan, Missouri won't give you any credit for the contribution. 

The credit is for a MOST 529 plan only.

MOST 529 

[b_reasonable]

Does the state allow contributions before April 18 to count on prior year's taxes?

[b_reasonable]

Does Oregon count contributions made before 2022-April-18 as deductible on 2021 taxes?

[DaveF1006]

Yes, Beginning  January 1, 2020 and forward will qualify for the new 529/ABLE account refundable credit. The refundable credit amount is based on filing status and adjusted gross income (AGI). The deadline to make the contributions for the new refundable credit is the earliest of the filing due date, without regards to extension, or the date the return is filed. 

 @b_reasonable

[b_reasonable]

I checked with Oregon's DOR -- took a bit of effort but found a place that said that this (and a couple others listed) report contributions made in 2022 up to 4/18 on their 2021 taxes.   I've made personal notes in my '22 tax files to remind me not to claim them next year.