Search results
Ohio 529 (CollegeAdvantage) savings plans allow individuals to save for higher-education expenses tax-free. Please see www.collegeadvantage.com for more information. 2 What is the deduction for 529 plan contributions?
- Save for College - Ohio
Created by Congress to encourage families to save for...
- Amounts Contributed to Ohio CollegeAdvantage: Ohio's 529 Plan
Line Item Overview: You may deduct up to $4,000 per...
- Save for College - Ohio
Learn how to open, manage, and benefit from your CollegeAdvantage 529 account, a tax-advantaged way to save for college in Ohio. Find out how to deduct contributions up to $4,000 from your Ohio taxable income per beneficiary, per year.
Ohio offers a state tax deduction for contributions to a 529 plan of up to $4,000 per year for any filing status. Tax deductions can be carry-forward with no limit - allowing for super-funding. Minimum: $25. Maximum: Accepts contributions until all account balances for the same beneficiary reach $517,000.
22 gru 2020 · Quick Facts About Ohio’s 529 Plan. Better growth potential than a typical savings account; Helps reduce the chance of overwhelming student debt; Money grows tax-free and remains tax-free when spent on qualified expenses; Ohio tax deduction up to $4,000 per child, per year; Not just for Ohio schools — use the funds nationwide
Created by Congress to encourage families to save for college, all 529 plans offer tax-free growth and tax-free withdrawals when used to pay for 529-qualified higher education expenses. As an added advantage, Ohio taxpayers who make contributions to a CollegeAdvantage 529 account may deduct contributions of up to $4,000 from their Ohio taxable ...
The investment menu in Ohio's 529 Plan, CollegeAdvantage, features 2 age-based options and 5 risk-based options using Vanguard funds, 13 static investment options using Vanguard and DFA funds, and 2 types of FDIC-insured deposit accounts through Fifth Third Bank, National Association.
Line Item Overview: You may deduct up to $4,000 per beneficiary for amounts contributed to an OHIO 529 (CollegeAdvantage) savings plan and included in your federal adjusted gross income. Other state's 529 plans do not qualify for this deduction. Any unused amounts may be carried forward.
