If a taxpayer contributes to a South Carolina Future Scholar (529) plan they may be eligible for a subtraction from income on their South Carolina tax return.
South Carolina allows a deduction of 100% of any contributions made to the SC Tuition Prepayment Program in 2021, and 100% of any contribution made to the SC College Investment Program made in 2021 and through April 15, 2022.
Desktop – To enter the deductible portion of the contributions that were made in the Desktop program, from the main menu of the South Carolina return, select:
- South Carolina Taxable Income
- Subtractions from Fed Taxable Income
- Contributions to SC Tuition Payment Program
ProWeb – To enter the deductible portion of the contributions that were made in the ProWeb program, from the main menu of the South Carolina return, select:
- Subtractions from Income
- Contributions to South Carolina Tuition Prepayment Program or South Carolina College Investment Program
Additional Information:
