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CLorenz
New Member

Deduction for contribution to MI 529 plan

Turbo tax is subtracting the entire contribution but the MI tax instructions say the deduction is limited to $10,000 for a MFJ return.  Is this a programing error?

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1 Reply
JamesG1
Employee Tax Expert

Deduction for contribution to MI 529 plan

The entry is required to be corrected.

 

In TurboTax, in the Michigan state income tax return, at the screen Contribution to MESP, MI 529 Advisor Plan and/or Michigan ABLE Account, I am able to enter $11,000 as a contribution for a married filing joint income tax return.

 

When I select Let's check it over, I receive the screen Check This Entry

 

The screen states:  Schedule 1:  Line 17 - Michigan Education Savings Program (MESP) and MI529 Advisor Plan should be less than or equal to $10,000.

 

I must change the payment to $10,000.

 

Michigan Schedule 1 line 17 reports $10,000.

 

 

 

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