View Full Version : 529 contribution rules


badgers
If I make a contribution in Feb 08 can I have it count for my 2007 taxes?
Similar to the roth contribution rules.
Specifically for Wisconsin and the tax benefits of the edvest.com program

clydewolf
Badgers,

It is good to see that you are planning on helping your children with their post secondary education expenses.

As you probably know, there is no deduction from your federal income for a 529 contribution.

I am not familiar with Wisconsin's tax rules. But this link says you can deduct up to $3,000 per beneficiary if it is to the Wisconsin state sponsored college savings account. http://www.revenue.wi.gov/taxpro/news/061127.html

And here is a link that tells us how to contact the Wisconsin Dept. of Revenue, you can ask them directly: http://www.revenue.wi.gov/contact/ise.html.

badgers
thank you for the links