The National Directory of Certified Public Accountants

Ask A CPA - 10 Popular Tax Questions

Where Do I Deduct The Contributions To A 529 Plan On My Federal Tax Return?

Contributions to a 529 Plan for your child's education are not deductible on the federal return. However, some states like NY do allow a deduction for contributions to a 529 plan. The advantage of making contributions to a 529 plan are that the earnings in the plan will not be taxed if the distributions are made for qualified educational purposes.

If you need professional help with "10 Popular Tax Questions" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.