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http://boards.fool.com/so-since-my-state-only-allowed-deductions-27729543.aspx
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| Subject: Re: 529 withdrawals | Date: 6/6/2009 8:11 PM | |
| Author: TMFPMarti | Number: 106224 of 118614 | |
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So, since my state only allowed deductions starting in 2006, I believe I need to dig out my 2006, 2007 and 2008 state tax returns, find the amounts deducted on each of these, then add all of those amounts together, then add the total to my federal AGI when I file 2009 taxes. Does that sound correct? That sounds about right. The only thing to double check: It's weird, but on the Federal return any taxable distributions go to the beneficiary, not the donor. Make sure that the income goes on the right state return. Phil |
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