2015 Virginia: 529 Plan Deduction
Virginia residents may deduct their contributions to Virginia 529 accounts each year, up to $4,000 per account type .
How to tell if you may be impacted:
- You filed your Virginia tax return prior to April 21, 2016 AND
- Your spouse was at least 70 years old, AND
- The taxpayer was under the age of 70, AND
- The taxpayer had Virginia 529 plan carryovers OR had contributions in excess of $4,000 per Virginia 529 account type.
If you are affected, you may have underpaid your state tax. You may need to amend your Virginia state return.
To amend your return:
- Follow these amend instructions for the TurboTax Online product.
- Follow these amend instructions for the TurboTax CD Download product.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.