529 contributions in Virginia
Varies
Are 529 Contributions Tax Deductible in Virginia?
Short answer: Yes on your Virginia return: $4,000 per account per year (any filing status); unlimited if age 70+. Only contributions to the state's own plan count. Virginia529 plans only; deducted by the account owner, not other contributors; prior deductions recaptured on nonqualified withdrawals.
Carryforward: Unlimited. 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 Virginia
Varies
Individuals / Personal Taxes
Yes on your Virginia return: $4,000 per account per year (any filing status); unlimited if age 70+. Only contributions to the state's own plan count. Virginia529 plans only; deducted by the account owner, not other contributors; prior deductions recaptured on nonqualified withdrawals.
Business justification
Yes on your Virginia return: $4,000 per account per year (any filing status); unlimited if age 70+. Only contributions to the state's own plan count. Virginia529 plans only; deducted by the account owner, not other contributors; prior deductions recaptured on nonqualified withdrawals. Carryforward: Unlimited. There's no federal deduction for 529 contributions; growth is tax-free when used for qualified education costs.
Category
- Personal Tax Deductions