If you pay individual income taxes to Virginia, your contributions to your Virginia529 account may reduce the amount you owe for 2018. Virginia taxpayers may deduct contributions made in 2018, up to $4,000 per Virginia529 account per year.
For proof of contributions for tax purposes, use your December 31, 2018 Virginia529 statement. You can access this through your secure online profile at Virginia529.com and view your entire account transaction history.
For an itemized list of 2018 contributions per account, log in to your secure online profile at Virginia529.com and select “Transaction History” under “View My Accounts.” Then select “Transactions per year” and enter “2018” in the year field. Repeat for each account.
Please note: While most states limit state tax deductions to contributions made to their own state’s 529 plan, Arizona, Kansas, Maine, Missouri, Montana and Pennsylvania normally allow taxpayers to deduct contributions to any 529 account for qualified college expenses. If you pay income taxes to one of these states, consult a tax professional for more information about deducting contributions to a Virginia529 account.