If a taxpayer contributes to a DC 529 College Savings plan, a portion of the contribution can be subtracted from income on the DC return.
Contributions up to $4,000 per year, are eligible for a DC state income tax deduction for those filing a single return; and $8,000 per year for those filling a joint return.
To enter the deductible portion of the contributions in TaxSlayer Pro, from the DC Return menu select:
- Subtractions
- Other Subtractions from Calculation B
- Paid to DC College savings plan this year - Enter the deductible amount of the contribution that the taxpayer made to the plan. Next, enter the deductible amount of the contribution made by the spouse.
Additional Information:
District of Columbia Tax Information
DC College Savings Plan Information
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