If a taxpayer contributes to a Utah my529 plan they may be eligible for a credit on their Utah state tax return.
The credit is calculated as a percentage of the lesser of the contributions made during year or a maximum amount per beneficiary. See the my529 website for the current year's percentage and limits.
TaxSlayer Pro Desktop – To enter the deductible portion of the contributions that were made in the TaxSlayer Pro desktop program, from the main menu of the Utah return select:
- Tax less Nonrefundable Credits
- Apportionable Credits
- Other Apportionable Credits
- Select New
- Select my529 (UESP) Credit from the drop-down menu
TaxSlayer ProWeb – To enter the deductible portion of the contributions that were made in TaxSlayer ProWeb, from the main menu of the Utah return select:
- Credits
- Apportionable Nonrefundable Credit
- Select my529 (UESP) Credit from drop down menu
Additional Information: