Which section do i take my 529 state deduction? Is it under deductions?

e5ctstm3
e5ctstm3 Member Posts: 1 Newcomer
in State Filing

Im in Virginia and have been through the entire form online and do not see the section where I can deduct my 529 contribution up to the $4000 limit? I just need to know where this is located in freetax usa?

Answers

  • JMSSGV
    JMSSGV Member, Star Posts: 303 image

    There's no Federal deduction for contributions to a 529 plan. Are you asking about the deduction on the Virginia tax return? It's under Commonwealth Savers.

  • TonyRVA
    TonyRVA Member Posts: 2 Newcomer

    I am not finding the "Commonwealth Savers" deduction section on the Virginia Tax Return. Is it hidden somewhere?

  • TonyRVA
    TonyRVA Member Posts: 2 Newcomer

    Ok, I think I found it:

    Code: 104

    If you were under age 70 as of the last day of 2025, enter the lesser of $4,000 or the amount contributed during 2025 to each Virginia Commonwealth Savers account (Prepaid529, Invest529, College America, or CollegeWealth). If you contributed more than $4,000 per account during the year, you may carry forward any undeducted amounts until the contribution has been fully deducted.

    If you are age 70 or older, you may deduct the entire amount contributed during the year.

    Only the owner of record for an account may claim the deduction

  • JanaA
    JanaA FreeTaxUSA Agent Posts: 145 image
    Hello TonyRVA! It looks like you found it! You're in exactly the right place. That is the Virginia Commonwealth Savers Account Contributions deduction (Code 104), and that's where you'll enter your 529 contribution amount.

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