Iowa 529 Plan Limit 2024 Tax. — the law bumps up that tax deduction amount to $5,500 in 2024 for contributions to 529 plans through college savings iowa and the iadvisor 529 plan, as. 529 plans are usually sponsored by states.
— one of the many benefits of saving for a child’s future college education with a 529 plan is that contributions are considered gifts for tax purposes. — in addition to the new tax deduction amount, iowa’s 529 account owners now will be able to transfer up to a lifetime limit of $35,000 to a roth ira in the.