Iowa 529 Max Contribution 2024 Over 55. Iowa offers a state tax deduction for contributions to a 529 plan of up to $5,500 for single filers and $11,000 for married filing jointly tax filers per beneficiary. Contributions of up to $5,500 per beneficiary per taxpayer are deductible from iowa taxable income in 2024 (currently adjusted annually for inflation) 4.
In 2024, individuals can gift up to $18,000 in a single 529 plan without those funds counting against the lifetime gift tax exemption amount. The maximum contribution limit pertains to each beneficiary.
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