154-Masterclass on 529 Plans a.k.a. Qualified Tuition Programs - Part 2: Savings Plans
Radical Personal Finance
Is Your State an Above the Line Exclusion From Income?
Kentucky does not permit deductions for contributionsto a five, two, nine. Kansas allows three thousand dollars for a single, six thousand dollars joint per beneficiary,. And that's an above the line exclusion from income. Maryland permits a two thousand, 500 dollar deduction per account, per beneficiary with a ten year carry forward. Massachusetts does not permit any deductions for five to nine contributions. Michigan has a five thousand dollar single and ten thousand dollar joint deduction, itis above the lineclusion from income. Minnesota does not permit no deductions. Mississippi has a ten thousand dollar for a single 20 thousand dollar joint, above line exclusion from Income. Nebraska, five thousand dollars per tax return. New York City
