Is a 529 worth it in this case?

artloversplus
Tue, 24 Sep 2019 14:20:30 +0000

In a high state tax state such as NY and your income is high, it might be beneficial because it is state tax deductible.

Otherwise it’s too close for your D’s to be worthwhile.

“In the majority of states, the full amount or a portion of a taxpayer’s 529 plan contribution is deductible in computing state income tax. … Seven states currently have a state income tax, but do not offer a deduction for contributions: California, Delaware, Hawaii, Kentucky, Maine, New Jersey, and North Carolina.Apr 11, 2019”