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Level 3
December 7, 2019
Solved

PA-40 529 Deduction.

  • December 7, 2019
  • 4 replies
  • 28 views

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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Best answer by Ernie

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

4 replies

Ernie
ErnieAnswer
Level 7
December 7, 2019

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

wienkyAuthor
Level 3
December 7, 2019
Thank you.  My error.  I was trying to enter data on Part II instead of Part I of Schedule O.