2025 Iowa 529 Contribution Limits. For iowa residents, annual contributions of up to $5,500 per beneficiary per taxpayer may be. The aggregate 529 contribution limit varies across states from $235,000 to greater than $550,000, with the threshold set to ensure that potential costs for higher.
So, for example, a $30,000 contribution would use $6,000 of the current. The 2018 iowa tax reform bill includes an updated federal conformity provision beginning with tax year 2018, which allows the same deductions for certain withdrawals from a.
Whatโs The Contribution Limit For 529 Plans In 2024?
You can contribute up to $90,000 in a single year for each beneficiary ($180,000 for a married couple filing jointly) without incurring a federal gift tax.
If A Participant (Saver) Is An Iowa Taxpayer, They Can Deduct Up To $5,500 In Contributions Per Beneficiary Account From Their State Income Taxes In 2024.
When it comes to saving for education, 529 plans offer a valuable tool for families and individuals.
You Can Contribute Up To $90,000 In A Single Year For Each Beneficiary ($180,000 For A Married Couple Filing Jointly) Without Incurring A Federal Gift Tax.
529 contribution limits are set by states and range from $235,000 to $575,000.
For Iowa Residents, Annual Contributions Of Up To $5,500 Per Beneficiary Per Taxpayer May Be.