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Level 2
April 14, 2026
Question

Are contributions to 5429 plsns deductable

  • April 14, 2026
  • 3 replies
  • 7 views
No text available

3 replies

Intuit Community Champion
April 14, 2026

I think you are referring to 529 plan for education. Not for federal, but it is for most states

Level 3
April 14, 2026

Contributions to 529 plans are not deductible on the federal return, as mentioned by @Terry53029, but the income earned on them is not taxable if the funds are used to pay for qualifying education expenses, to include room and board.

Accountant-Man
Level 13
April 14, 2026

Federal-No, States-possibly.

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