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New Member
posted Jun 4, 2019 12:22:07 PM

Will my 529 contributions reduce my taxable income (federal/state)?

I live in California

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1 Best answer
Level 9
Jun 4, 2019 12:22:09 PM

No, the IRS has never allowed a deduction for 529 contributions and California is one of the few states that do not have a deduction.

1 Replies
Level 9
Jun 4, 2019 12:22:09 PM

No, the IRS has never allowed a deduction for 529 contributions and California is one of the few states that do not have a deduction.