If a taxpayer contributes to a LA 529 College Counts 529 plan, a portion of the contribution can be subtracted from income on the Louisiana return.
Contributions up to $2,400 per year, are eligible for a Louisiana state income tax deduction for those filing a single return; and $4,800 per year, for those filling a joint return.
To enter the deductible portion of the contributions that were made in TaxSlayer ProWeb, from the main menu of the Louisiana return, select:
- Subtractions from Income
- Other Subtractions
- Select Other Exempt Income and enter the deduction amount below
- 09E - Start Savings Contribution - Enter the deductible amount of the contribution that the taxpayer made to the plan. For married filing joint filers, combine the total contributions made by each spouse. Do not enter more than the maximum deductible amount of $2,400 for single filers, or $4,800 for married filing joint filers.
Additional Information: