Where Do I Enter Contributions to an Arkansas Gift 529 College Plan?
Desktop · Written guide Content date 1 min read
If a taxpayer contributes to an Arkansas Gift 529 college plan, a portion of the contribution can be subtracted from income on the Arkansas return.
Contributions up to $5,000 per year are eligible for an Arkansas state income tax deduction for those filing a single return and $10,000 per year for those filling a joint return.
To enter the deductible portion of the contributions that were made in Tax Processors Plus Desktop, from the Arkansas Tax Return menu select:
- Adjustments
- AR Tax Deferred Tuition Savings Program - Enter all required information including the deductible amount* of the contribution that the taxpayer, and spouse if applicable, made to the plan.
*If the contribution amount was more than the deductible limit, do not enter more than $5,000 for the taxpayer and $5,000 for the spouse.
Additional Information: