Louisiana 529 plan tax forms

It is mailed via snail mail. The front is a regular generic letter and the back should have your contribution info.

You do not "need" this form per se if you know how much you contributed, but good for your records.

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529s are after- tax contributions. Think Roth IRA like. Tax forms matter when you withdraw to use the funds for education costs. Why, to match with the actual education expenses. Not needed at contribution as you are not getting tax deferred treatment.

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Your state taxable income is reduced by (your) contributions up to $2.4k single and $4.8k married. So you do get a state tax deduction on your contributions. So 3% back on state taxes basically on whatever your contributions up to that amount.

Here in GA it's $4k single and $8k married. Feel like most states allow you to do that (if there is a state income tax). Here in Ga our state income tax is 5.19%, so it's meaningful. We do $2,400/yr in to our daughters 529 so that's $124.56 in taxes I dont owe to the state of GA.

The best deal might be the ability to roll the 529 money into a Roth for your kids (grandkids) when they turn 17 or 18. $7000 last year and $7500 this year. LA hasn’t fixed the amount yet in their system and I’m still waiting to transfer the $7500 to her Roth. I think there is a maximum you can transfer but i think it’s $45,000 over 6-7 years.