Does Colorado give a deduction for 529 contributions?
Colorado's 529 tax deduction
For Colorado taxpayers, contributions to ANY CollegeInvest savings account are eligible for a deduction from your Colorado state income tax return1. For calendar year 2021, contributions may be eligible for a dollar-for-dollar deduction up to your 2021 Colorado taxable income.
Are college 529 plans worth it?
Is a 529 Plan Worth It? The advantages of a 529 plan make it a smart way to save for college in certain circumstances. For example, if you're sure you've got a child who's destined for higher education and you can afford to make contributions, the 529 plan is an excellent way to go.
How much can you contribute to a Colorado 529?
The maximum contribution level in Colorado is $500,000 per Beneficiary (across all accounts for that Beneficiary). Think of all of the extended opportunities you may have with multiple Beneficiaries.
Does Colorado offer a 529 plan?
Colorado offers four types of 529 plans, all of which are designed to help save for higher education, including community colleges, four-year public or private colleges, and universities, graduate and post-graduate programs, and vocational and trade schools.