Updates to 529 Plan Contribution Limits and Tax Deductions
Every year, a number of states make changes to their 529 plans. It’s hard to keep up with all of these changes, but I do an annual review of the programs to update some of the most common changes:
-Increases to maximum contribution limits
-Changes in in-state tax benefits and deductions
This year there are some good changes and bad changes. Although many states have increased tax deductions, some have dropped matching grants as they struggle with budget deficits.
You should double check your state here to look for any changes:
Also, some states do better than others at keeping their informational web sites up-to-date. If you notice any errors in my updated numbers, please let me know.