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Do rollovers from another states 529 plan qualify for the Vermont income tax deduction?

April 26, 2017deduction Plan qualify rollovers State Vermont

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Do rollovers from another states 529 plan qualify for the Vermont income tax deduction?

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Yes, amounts transferred from another 529 college savings plan are eligible for the Vermont tax credit. Pursuant to the Vermont Department of Taxes Technical Bulletin (TB-33), rollovers from another state’s qualified tuition plan into the VHEIP are eligible for the income tax credit to the extent the amounts were previously contributed to the other plan and provided the funds remain in the VHEIP for the remainder of the taxable year in which the funds were rolled into the VHEIP.