529 contributions in Mississippi
Varies
Are 529 Contributions Tax Deductible in Mississippi?
Short answer: Yes on your Mississippi return: $10,000 single / $20,000 joint per return. Only contributions to the state's own plan count. MACS plan only; contributions made by April 15 may be deducted for the prior year; deducted principal recaptured if withdrawn nonqualified.
There's no federal deduction for 529 contributions; growth is tax-free when used for qualified education costs.
Records to keep: Keep receipts, statements, and a note of what each cost was for. Compare itemizing to the 2026 standard deduction ($16,100 single / $32,200 joint) before you claim.
529 contributions in Mississippi
Varies
Individuals / Personal Taxes
Yes on your Mississippi return: $10,000 single / $20,000 joint per return. Only contributions to the state's own plan count. MACS plan only; contributions made by April 15 may be deducted for the prior year; deducted principal recaptured if withdrawn nonqualified.
Business justification
Yes on your Mississippi return: $10,000 single / $20,000 joint per return. Only contributions to the state's own plan count. MACS plan only; contributions made by April 15 may be deducted for the prior year; deducted principal recaptured if withdrawn nonqualified. There's no federal deduction for 529 contributions; growth is tax-free when used for qualified education costs.
Category
- Personal Tax Deductions