Iowa 529 Deduction For 2024 Tax. On the state return, it only asks me for distributions from a 529 on adjustments to income. If you are an account owner and also an iowa taxpayer, you can deduct up to $5,500 of your contributions per beneficiary account, including.

The iowa legislature this year increased the tax deduction for contributions to iowa’s two 529 plans —college savings iowa and the iadvisor 529 plan—to $5,500 per beneficiary.  — 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.