Iowa 529 Deduction Limit 2024. Governor reynolds has signed a bill into law that raises the maximum tax deduction for contributing to a “college savings iowa” account to $5200. As of 2024, families can roll over unused 529 funds to the account beneficiary’s roth individual retirement account, without triggering income taxes or penalties, as long as the 529.
Recent state legislation has increased the tax deduction amount up to $5,500 for contributions to iowa’s two 529 plans, college savings iowa and the iadvisor 529 plan, and. Governor reynolds has signed a bill into law that raises the maximum tax deduction for contributing to a “college savings iowa” account to $5200.