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New Member
posted Jun 3, 2019 4:33:48 PM

I enter 5,000 in 529 contributions for my 2 kids on the Ohio return. Why does Turbo Tax keep posting it as 8,000 when I finish?

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3 Replies
Level 15
Jun 3, 2019 4:33:50 PM

Starting in 2018, the state of Ohio has doubled the available deduction for residents from $2,000 to $4,000 per year. 

Expert Alumni
Jun 3, 2019 4:33:52 PM

The maximum contribution limit is $4,000 per beneficiary. If you are entering $5000 per beneficiary, TurboTax is giving you the maximum of $8000.

Level 15
Jun 3, 2019 4:33:53 PM

You may have carry over from previous years. You are allowed $4000 per kid.  4000 x 2 = 8000.  $5000 this year plus 3000 carryover = 8000.