Although contributions are not deductible on your federal tax return, earnings grow taxfree, withdrawals are taxexempt, and generous contributions are free from estate tax accounting—as long as the account is used for educational expenses. It differs from a traditional savings account as contributions up to ,130 for the 2025 tax year can be deducted from your state income taxes. Com › community › statetaxessolved wisconsin 529 limits intuit. Gov › pages › faqsdor college savings accounts wisconsin.
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Com › 529planguide › wisconsinwisconsin 529 plan rules and college savings options, Com › blog › edvestcontributionlimitupdatedfor2024edvest contribution limit updated for 2024 broadview financial. Your contributions into a college savings account are eligible for a wisconsin subtraction even if you are both the owner and beneficiary of the account. residents can deduct contributions to a wisconsin 529 plan, which includes edvest and tomorrow’s scholar. Wisconsin offers a valuable state income tax deduction for contributions made to edvest, the statesponsored 529 college savings plan.
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