Wisconsin 529 Deduction 2024. Edvest (the wisconsin 529 college savings plan) contributions up to $4,000 per beneficiary (for single filers or married filing jointly) are eligible for a wisconsin income tax deduction. In 2024, for new contributions, up to a $5,000 reduction from taxable income per eligible family member per year (if wisconsin resident)** the reduction is available to anyone.
Wisconsin offers tax benefits and deductions when savings are put into your child’s 529 savings plan. Senate bill 389, which provides a number of changes to the existing wisconsin state tax deduction for 529 plan contributions, has been signed into law.