Virginia 529 plan annual deduction

I know that I can deduct up to $4000 per year on my state tax return for 529 plan contributions. My question is, if I, as the account owner, not the beneficiary, am only a resident of VA for part of the year, can I still deduct the entire $4000 for the year on my state tax return?

1679

Employee Tax Expert

Apr 6, 2025 3:15:34 PM

Yes, but only the Virginia529 account owner of record as of December 31 is eligible to take the Virginia state tax deduction associated with Virginia529 accounts so you must have moved into Virginia.

New Member

Apr 6, 2025 3:56:56 PM

Actually, we lived in VA January through March and moved to Florida beginning of April. We still own property in VA, but don't live there anymore.

Employee Tax Expert

Apr 7, 2025 9:21:26 AM

If you are the account owner, you can claim up to $4,000 of your contribution as a part-year resident.

Reference: Deductions | Virginia Tax and PART-YEAR RESIDENT

New Member

Apr 7, 2025 9:36:03 AM

Thanks.

Why sign in to the Community?

Virginia 529 plan annual deduction