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itsjustpk Member since 2003

From: WI

Saving for: granddaughter, age 19


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The extra 10% for dining and participating grocery items is usually posted a few weeks after...more

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Preparing for college

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Cappuccino
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Cappuccino
Posts: 5
Registered: 12-28-2008
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College contributions deducted from State taxable income :smileyindifferent:

03-17-2009 10:21 AM

We live in INDIANA and we could not deduct any of our contributions from our state's taxable income because the Tax Advisor (CPA) indicated that the 529 Accounts do not begin with an INDIANA college savings account number and therefore,  we should switch to an INDIANA account so that my husband and I can deduct a portion or all of our contributions from our state's taxable income.  Has anyone else experienced this?? :smileyindifferent:

 

 

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Rosalyn
Posts: 54
Registered: 10-30-2008
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Re: College contributions deducted from State taxable income :smileyindifferent:

11-18-2009 05:55 PM

Since joining Upromise, I have been submitting a withdrawal form to Upromise to request my account balance in check, and then use these funds to deposit into the Wisconsin EdVEST accounts for my kids.  Then I can take the eduction contribution deduction for our state taxable income.

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