Am I eligible for a state tax deduction for my Ugift contribution?
Each state has different rules regarding contributions to a 529 plan. You should consult with a tax advisor regarding the application of state laws to your particular circumstances. If you are a Kansas taxpayer, you can receive a tax deduction for your contributions even if you are not the account owner. Back to Top Before investing, carefully consider the plan’s investment objectives, risks, charges and expenses. This information and more about the plan can be found in the Learning Quest Handbook, available by contacting your financial advisor or American Century Investment Services, Inc., Distributor and Underwriter, and should be read carefully before investing. If you are not a Kansas taxpayer, consider before investing whether your or the beneficiary’s home state offers a 529 Plan that provides its taxpayers with state tax and other benefits not available through this plan. As with any investment, withdrawal value may be more or less than the original investment.
Related Questions
- If I contribute $4,000 to an Oregon 529 plan and my spouse contributes $4,000 to an Oregon plan, are we both eligible for the $4,000 state tax deduction?
- If I contribute $2,000 to an Oregon 529 plan and my spouse contributes $2,000 to an Oregon plan, are we both eligible for the $2,000 state tax deduction?
- Are gift contributions eligible for a New York State tax deduction?
