Iowa 529 Deduction For 2025 Tax

Iowa 529 Deduction For 2025 Tax. Iowa Standard Deduction 2025 Jayme Melisse Iowa Governor Kim Reynolds signed Senate File 2417, an extensive state tax reform bill to improve the tax structure in Iowa Among the 43 states that collect income taxes, there are only nine other states that have a higher tax deduction than Iowa's new $5200 amount for tax year 2025

Among the 43 states that collect income taxes, there are only nine other states that have a higher tax deduction than Iowa's new $5200 amount for tax year 2025 DES MOINES - State Treasurer Roby Smith announces Iowa taxpayers can deduct up to $5,800 in contributions per ISave 529 Beneficiary account from their income taxes in 2025."With ISave 529, saving for education goes hand-in-hand with saving on taxes," said Smith

The unique benefits of 529 college savings plans

Maximum deductions for tax years 2024 and 2025 for individual filers/those married filing jointly; Alabama: $5,000/$10,000: Alaska: No benefits: Some plans, including ISave 529, offer additional benefits for its state residents. "Since the deduction applies to each Beneficiary account, you can save even more when both adults open an account for each.

Iowa 529 Plan Tax Deduction 2024 Lotti Rhianon. Note: Iowa taxpayers can contribute until the Iowa state income tax-filing account could deduct up to $23,200 (4 x $5,800) in 2025

2024 Ira Contribution Limits Over 65 Clea Melisa. "Since the deduction applies to each Beneficiary account, you can save even more when both adults open an account for each. One of the most appealing features of saving with a 529 plan are the federal tax benefits