If a taxpayer contributes to an Oklahoma 529 plan, a portion of the contribution can be subtracted from income on the Oklahoma return. For the 2024 tax year, contributions to the OK savings plan are generally tax deductible up to $10,000 per year for a single return and $20,000 per year for a joint return. Any contribution in excess of this amount may be deducted over the following five tax years.
To enter the deductible portion of the contributions in ProWeb, from Oklahoma Return menu select:
- Adjustments
- Contributions to OK 529 Savings Plans - Enter the amount of the contribution but not more than $10,000 ($20,000 if both taxpayer and spouse contributed).
Additional Information:
Oklahoma State Tax Information
Oklahoma 529 College Savings Plan Information
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