I have several 529 accounts for my young grandchildren. I am wondering if I need to report these accounts to the irs as a part of my taxes for 2024. If so, how do I do it???
02466
2 Replies
pjtk67
New Member
Feb 26, 2025 4:12:02 PM
My 529 information does not appear on my federal return, only on the state return (where the 529 donations are tax deductible).
DawnC
Expert Alumni
Feb 26, 2025 4:25:25 PM
No, 529 plan contributions are not deductible on your federal return, so you don't need to enter anything about them on the federal return. Some states allow a deduction. If yours does, you can take the credit on your state return.