Iowa 529 Deduction For 2024 Deduction. Iowa offers a state tax deduction for contributions to a 529 plan of up to $5,500 for single filers and $11,000 for married filing jointly tax filers per beneficiary. Recent state legislation has increased the tax deduction amount up to $5,500 for contributions to iowa’s two 529 plans, college savings iowa and the iadvisor 529 plan, and.
The iowa 529 contribution is a negative adjustment that would be used to lower the iowa taxable income. The vanguard logo is a registered trademark of the vanguard group, inc.