Connecticut 529 deduction

[ptax255]

Hi,

I'm reading mixed articles about the following questions:

- Is the CT 529 deduction $10K per child or per tax return? When I enter $20K in proseries it says amounts is too large, but it will accept $10K (MFJ)

- Are contributions from liquidating a UTMA deductible?

Thanks!

[sjrcpa]

1. Check the CHET website and/or the CT form instructions. Better yet, CT law. Not articles.

2 "Are contributions from liquidating a UTMA deductible?"  I don't know what this means.

[ptax255]

Selling securities from UTMA to get cash and fund the 529 with that cash. Would this contribution be deductible? 

[sjrcpa]

It doesn't matter where the cash comes from to fund the 529 Plan.

[Terry53029 · Accepted solution]

Seems to be $10,000 per return MFJ. see line 48 instruction at the following link.

https://portal.ct.gov/-/media/DRS/Forms/2021/Income/CT-1040-Online-Booklet_1221.pdf