529 Plan Carryover Wisconsin

rfs19777 · ‎February 11, 2023

Is there a max carryover amount? Does the carryover expire? How is is used and applied to future tax filings...

Schedule CS Lin37

Anyone have input on this?

MichaelG81 · ‎February 11, 2023

Yes, the maximum amount allowed in 2022 is $3,560 for married couples, for individuals it is $1,780; and the excess can be carried forward. If you contribute less than the maximum amount, for example, Married Filing jointly $2,000, then $1,560 from a possible carry forward is applied towards state taxes from a past carry forward. If you contribute more than the amount the excess is applied for future years up to the amount of $3,560 for Married Couples, in 2022.

@rfs19777

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