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PA-40 529 Deduction.

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Level 2
last updated ‎December 06, 2019 8:40 PM

Phone call to Plan headquarters says you can deduct 15,000 per beneficiary. Example, 10 grandkids and $8,000 per kid $80,000 deduction.  Program limits amount entered to total of $15,000.

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Level 8
last updated ‎December 06, 2019 8:40 PM

I just tried it for 3 individuals $15,000 for taxpayer for a total of $45,000.  The taxpayer received the full $45,000.

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Level 8
last updated ‎December 06, 2019 8:40 PM

I just tried it for 3 individuals $15,000 for taxpayer for a total of $45,000.  The taxpayer received the full $45,000.

View solution in original post

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Level 2
last updated ‎December 06, 2019 8:40 PM
Thank you.  My error.  I was trying to enter data on Part II instead of Part I of Schedule O.
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Level 2
last updated ‎December 06, 2019 8:40 PM
Thank you.  My error.  I was trying to enter data on Part II instead of Part I of Schedule O.
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Level 8
last updated ‎December 06, 2019 8:40 PM
Glad to help!
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