Vanguard 529 state tax deduction calculator

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529 state tax deduction calculator

Estimate the state tax deduction or credit you could receive for your 529 contribution this year.

State tax benefits may not apply to K-12 tuition. K-12 tuition can be treated as a qualified education expense under the federal tax benefit. Because each state makes its own rules, it's less clear whether account owners can receive a state tax break for K-12 tuition. To find out if you qualify for a state benefit, check the state where you pay state income tax—even if another state sponsors your 529 plan. You should consult your tax advisor for guidance.

Planned contribution this year

State of residence
* denotes state with a 529 deduction or credit

Filing status

Married/Joint Single

Taxable income

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All investing is subject to risk, including the possible loss of the money you invest.

For more information about any 529 savings plan, contact the plan provider to obtain a Program Description, which includes investment objectives, risks, charges, expenses, and other information; read and consider it carefully before investing. If you are not a taxpayer of the state offering the plan, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program. Other state benefits may include financial aid, scholarship funds, and protection from creditors. Vanguard Marketing Corporation serves as distributor for some 529 plans.

This tool isn't intended to constitute, nor does it constitute, tax advice. You should consult your own tax advisor for more information on the tax implications of investing in a 529 plan based on your own particular circumstances.

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Your tax filing status will be used to determine the amount of your state tax deduction if your state allows different tax deduction amounts for married/joint filers versus single filers. Your filing status will be used to compute your marginal tax rate, which determines the net value of your state tax deduction.

If your status is “married filing separately” or “head of household,” select Single.

Taxable income includes your total annual income (salaries, wages, pension payments, dividends, and interest) less your deductions (standard or itemized) and personal exemptions. This calculator assumes that state and federal tax treatments are similar for most sources of income and types of deductions and that federal taxable income is equivalent to state taxable income.