If a taxpayer contributes to a Nebraska 529 College Investment Plan, a portion of the contribution can be subtracted from income on the Nebraska return.
Account owners are eligible to receive a Nebraska state income tax deduction of up to $10,000 ($5,000 if married, filing separately)
There is no income limit or savings cap. There is a contribution limit of $500,000 per beneficiary.
To enter the deductible portion of the contributions that were made in the Desktop program, from the main menu of the Nebraska return, select:
- Subtractions to Federal AGI
- Nebraska college Savings Plan Contributions
Additional Information: