My state of Sc has a 5259 plan that fully deductible. Did I have to state the plan in 2006 for 2006 write off or can I just start one prior to filing taxes for 2006?
529 Education plan
Feb 14, 2007
3 Replies
Check your state's rules. In mine at least, that contribution needed to be be made by close of calendar year to count for ty2006.
-- Todd H.
formatting link
In order to take a 2006 deduction the plan had to be established on or before Dec. 31, 2006. The contribution to the plan had to be made before that date as well. Columbia Management is the sponsor for the SC 529 plan and you can get more information from their website at
formatting link
I would like to correct my earlier post. After just talking to a representative from Columbia Management they informed me that you have up to April 17 this year to make a 2006 contribution to the SC 529 plan.
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required