If a taxpayer contributes to a Georgia 529 College Savings plan, a portion of the contribution can be subtracted from income on the Georgia return.
Contributions up to $4,000 per year, per beneficiary, are eligible for a Georgia state income tax deduction for those filing a single return; and $8,000 per year, per beneficiary, 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 Georgia return, select:
- Subtractions from Income
- 20xx Savings Plan Contributions - 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.
*If the contribution amount was more than the deductible limit, do not enter more than $4,000 ($8,000 if both taxpayer and spouse contributed) per beneficiary.
Additional Information: