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Why is my tax liability increasing when I enter College Savings Account Contribution for Wisconsin

 
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1 Reply
LenaH
Employee Tax Expert

Why is my tax liability increasing when I enter College Savings Account Contribution for Wisconsin

I am unable to recreate your issue. I successfully created a mock return using TurboTax Online and I am able to get a credit on my Wisconsin tax return when I enter a college savings account contribution. 

 

Please ensure you are entering your amount contributed to the line, Amount you contributed to the account for 2023. In addition, the line must be marked as a contribution to your Edvest or Tomorrow's Scholar account. This entry is also required. 

 

If you are not in the right area of TurboTax, please follow the instruction below to enter the college savings account information: 

  1. Open your Wisconsin return. 
  2. Continue through the pages until you get to the page, Here's the income that Wisconsin handles differently
  3. Scroll down. Under Education, click Start/Revisit next to College Savings Account
  4. Enter the account beneficiary information, mark it as a contribution to your Edvest or Tomorrow's Scholar account, and enter the amount contributed to the account for 2023. 
  5. Continue through your return. 

If you are still getting an error, it would be helpful to have a TurboTax ".tax2023" file that is experiencing this issue.

 

You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions: Go to the black panel on the left side of your program and select Tax Tools. 

  1. Then select Tools below Tax Tools. 
  2. A window will pop up which says Tools Center.  
  3. On this screen, select Share my file with Agent. 
  4. You will see a message explaining what the diagnostic copy is. Click okay through this screen and then you will get a Token number. 
  5. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

 

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