Can I Claim Oregon 529 Credit for Contribution Made in January 2025 on My 2024 Tax Filing?

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I need some clarification about Oregon's 529 College Savings plan credit.

I live in Oregon and know that the state offers a tax credit for contributions to the College Savings Plan. Here's the situation:

• Contribution Date: I contributed $7,200 on 01/10/2025 for my two kids.
• Tax Filing Question: TurboTax asks about "Higher education savings plan deposits in 2024," which has me confused.
• Oregon 529 Plan Administrator didn't ask if the contribution was for 2024 or 2025.

From what I understand, since my contribution was made before the 2024 tax filing deadline (04/15/2025), I should be able to report it on my 2024 taxes. But the phrasing in TurboTax makes me unsure.

Also, I don't see any tax documents in my 529 savings account.

So my questions are:

1. Can I claim the credit for the $7,200 contribution on my 2024 tax filing?
2. Is the wording in TurboTax a concern, or am I good to go?

Appreciate any insights or advice! Thanks in advance!

Here is the screenshot of 529 savings plan website:  

Here is the screenshot of question in TurboTax: 

[MindyB · Accepted solution]

Yes, according to the Oregon income tax return instructions (2024 Publication OR-17, Oregon Individual Income Tax Guide, 150-101-431 page 121), you may include the contribution made in January in the section for contributions in 2024.

Note Oregon no longer allows a deduction for 529 contributions (unless you are carrying forward unused deductions from prior years.) Rather, the current benefit is a tax credit, with a maximum value of $180 ($360 if married filing
jointly).