529 contributions

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  • #2401
    jubilee12
    Participant

    Grandparents contribute 529 to grand children every year.Their accounts were set up by their father. Can we deduct the contribution in my income tax or their father. We all lived in Pennsylvania. Thank you for your help.

    #2404
    Kaye Thomas
    Moderator

    Contributions to 529 plans are not deductible for federal tax purposes. I’m not familiar with Pennsylvania’s rules, but if they provide a deduction I would expect them to follow the principle that the deduction belongs to the person making the payment, not the person who set up the account.

    #2410
    jubilee12
    Participant

    Thank you. That make sense.

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