If a taxpayer contributes to a MACS 529 college plan, they may be eligible for a subtraction from income. Contributions of up to $10,000 per year are eligible for a Mississippi state income tax deduction for those filing a single return; and up to $20,000 per year for those filling a joint return.
To enter the deductible portion of the contributions in TaxSlayer ProWeb, from the Mississippi Return menu select:
- Subtractions from Income
- Affordable College Savings (MACS) contributions - Enter the amount of the contribution but not more than $10,000 for single filers or $20,000 for MFJ filers.
Additional Information:
Mississippi State Tax Information
Mississippi MACS Frequently Asked Questions
TaxSlayer Pro strives to keep the information on this page timely and accurate but makes no promise or guarantee about the timeliness, accuracy, or completeness of the contents of this page. This is general information and is not intended to be tax advice. You are encouraged to also review the underlying state resources and publications.