Iowa 529 Max Contribution 2024. You can contribute as much money as you want, but there are tax incentives to stay within the gift tax limits. In illinois, it is $10,000 for individuals and $20,000 for joint contributors, but in iowa it is only $3,785.
They are based on the gift tax guidelines. If you are an account owner and also an iowa taxpayer, you can deduct up to $5,500 of your contributions per beneficiary account, including rollovers, from your iowa income taxes in 2024.
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