Self-Employed Taxes 👁 4 views

Are 529 plan contributions tax deductible federally?

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Anonymous

Jun 22, 2026, 6:39 PM

I want to start a 529 plan for my newborn. I know the earnings grow tax-free, but do I get a federal tax deduction for my initial contributions? What about state taxes?

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Guest

Jun 22, 2026, 6:39 PM

[Verified Expert Answer]

No federal deduction, unfortunately. You put in after-tax money. But the growth is completely tax-free if used for education.

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Guest

Jun 22, 2026, 6:39 PM

Check your state laws! Even though there's no federal deduction, many states offer a state income tax deduction if you contribute to your own state's 529 plan. It saved me a few hundred bucks last year.

Are 529 plan contributions tax deductible federally?

2 Answers

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