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Wwcca1
January 31, 2020
Question

Can grandparents get a deduction for contributions to grandkids 529's

  • January 31, 2020
  • 2 replies
  • 0 views
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    2 replies

    N
    NCPERSON1
    January 31, 2020

    no -it's just a gift.......

     

    remember only the earnings in the 529 create a tax benefit; funding the 529 in and of itself does not. 

    M
    MikeinSC
    January 31, 2020

    So, there can be a state deduction - there is in SC.  If you put money into grandkids' 529 (using the SC 529 plan), you do get this on your SC return.  Check your state instructions.  

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