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 in ProWeb, from the resident Nebraska Return menu select:
- Subtractions from Income
- NE College Savings Plan – Enter Contributions made in tax year
Additional Information:
Nebraska State Tax Information
Nebraska 529 Education Savings
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