Article: 50565
Overview
Ohio offers a state income tax deduction for contributions made to Ohio 529 CollegeAdvantage accounts. This deduction helps families and individuals save for future educational expenses by lowering their taxable income.
To claim this deduction, you must complete the 529 Education Deduction Information form as part of your Ohio IT-1040 return.
Who Is Eligible to Claim This Deduction?
You may claim the deduction if:
- You contributed to a CollegeAdvantage 529 plan (Ohio’s qualified tuition program),
- The contributions were made during the current tax year,
- The account is in your name or your spouse‘s name, and
- The contribution was made for the benefit of a dependent claimed on your tax return.
Note: The deduction is available even if the plan beneficiary is not an Ohio resident. However, the account itself must be an Ohio 529 plan.
Deduction Limit
- You can deduct up to $4,000 per beneficiary, per year.
- Contributions above $4,000 per beneficiary may be carried forward and deducted in future years (no cap on carryforward duration).
How to Report
- Navigate to the State Taxes section on the left-hand side of the screen.
- Click the link: I’d like to see the forms I’ve filled out or search for a form.
- In the dropdown menu, select Ohio.
- Click on the General tab.
- Select 529 Education Deduction Information to open the screen.
- Enter all applicable information.
- Click Save once complete.
Additional Resources
For further guidance, see: Ohio IT-1040/SD-100 Booklet – 2024 Instructions