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New Member
posted Jun 4, 2019 5:42:39 PM

Why my edvest contribution in WI for 529 plan showing tax deduction?

There is no change in refund amount after I enter the 529 contributions for Edvest in WI... Don't we get some state benefits/deductions for it?

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1 Best answer
New Member
Jun 4, 2019 5:42:40 PM

In Wisconsin this is a Deduction (downward adjustment) that is used to calculate your Taxable State Income. If your Taxable State Income is already at zero (or is brought down to zero) with this deduction, the remaining Dollar amount is not applied as a refundable credit. 

1 Replies
New Member
Jun 4, 2019 5:42:40 PM

In Wisconsin this is a Deduction (downward adjustment) that is used to calculate your Taxable State Income. If your Taxable State Income is already at zero (or is brought down to zero) with this deduction, the remaining Dollar amount is not applied as a refundable credit.