Question

I'm not getting my WI deduction for my Edvest contribution. Schedule CS line 3 is showing 0. Do you know why?

Forum|Forum|6 years ago
January 22, 2020
5 replies
0 views

No text available

TurboTax Deluxe Online

Your contribution to Edvest should be showing on WI Schedule CS line 3 (up to $3,280) as long as you are the owner of the account or were authorized by the owner to make contributions to the account.

To look into this, I need a little more information:

1. On the College Savings Account Information screen, in the choices to describe the account, did you select:

A - Contribution to our Edvest or Tomorrow's Scholar account
B - Contribution to other's EdVest or Tomorrow's Scholar account

2. Did you mark the box: Taxpayer is divorced parent of beneficiary?

Thanks!

S

s2name96

I'm having the exact same problem. I called for help and was told to have our return reviewed I would have to pay and additional amount. It seems like there's a glitch with the program and I would really like some help that doesn't involve paying more money.

S

s2name96

Note: We checked A - Contribution to our Edvest or Tomorrow's Scholar account

T

TommyK123

I am having the same problem.

It was working my first pass though but I didn't know exactly how much I was going to put in extra still. So I pushed forward to get the review of taxes. All was good.

Now when I go back and edit the amount I contributed in 2019 it won't update the refund like it was previously.

I tried adding another college savings account as a test and if I adjust that one it changes my refund.

I think there is a glitch here as well. Turbo Tax Support, please help.

A

amsam

I'm having the same issue with Schedule CS line 3 for our 2020 taxes. Did anyone figure out how to resolve this?

H

hda

This is still occurring in 2022. Come on Turbo Tax get your sh#t together. I put an amount in and than went back to see how much it was saving me and it decreased my state return but when I went back to re-enter the amount it did not increase my return. I am going to end up just not contributing to my kids Tomorrow Scholar if it won't give me a tax benefit.

S

s2name96

No matter what I did or how I entered it, our state return amount never changed when we entered our 529 contributions. I literally spent hours on the phone with Turbo Tax about this problem. Finally got escalated to an individual who could manually get our state return corrected. I feel bad for all the people who didn’t/don’t recognize that there’s a problem. Sadly after many years of using Turbo Tax we’re now paying to have our taxes done. At least we know it will be correct.

J

jfvlazny

Seeing the same thing in 2022 - $6000 contributed for 4 kids but turbotax only gives me $1000 per child. WI doesn't limit based on AGI so why does Turbotax. Was able to overwrite to get correct amount in WI SB.

DawnC

TurboTax is handling these contribution deductions properly. I entered 3 beneficiaries (children) with contributions of $4000 each and Line 10 of Schedule SB shows a subtraction of $10,680. If Schedule SB is not populating correctly, delete the Schedule CS(s) and reenter them.

The taxpayer may subtract the amount contributed to a Wisconsin state-sponsored college savings account (EdVest or Tomorrow’s Scholar) if the taxpayer is the owner of the account
or authorized by the owner to make contributions to the account.

Principal amounts rolled over from another state’s 529 plan may also be subtracted. The maximum subtraction is $3,560 per beneficiary ($1,780 per beneficiary if MFS or a divorced parent). Complete Schedule CS - College Savings Accounts, and include with Schedule SB. @jfvlazny

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

O

Oofta

Please advise how to enter WI Schedule CS in the online version of TurboTax.

We have two dependents for whom we have EdVest accounts.

Dep1: in college...we're drawing on 529...no contributions (I entered a 1099-Q)

Dep2: not yet in college...we're not drawing...and have contributions (no 1099-Q)

There doesn't seem to be a way to enter Dep2 contributions to get the WI tax break.

Something appears to be broken. Any one else have this issue?

K

KGK1

When I entered my Edvest contribution in the Federal Return it did not flow to the Wisconsin return and so I had to find the form and enter it myself. Turbo tax must have a missing link.

cgervasi

For me it's not entering the number I think it's supposed to on Line 7 of Wisconsin Schedule CS. My reading is your supposed to enter $3860 on that line if you're Married Filing Jointly or Single. TurboTax enters 0.

DaveF1006

it depends. Try entering this amount in your state return if you haven't done so.

Open Turbo Tax
Go to State returns. Start working on your Wisconsin State return.
Go to the page that is titled Here is the income Wisconsin handles Differently
Go to Education
Go to College Saving Account
Fill in all information required in the College Saving Account Information
After entering, you will be brought to the Here is the income Wisconsin handles Differently page. You should a separate listing for College Savings Account and the $3860 total listed.
$3860 should be listed automatically on line 7 & 8 on Schedule CS. You do not need to enter this on the form if it is filled out correctly in the state interview section.

@cgervasi

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"