Iowa 529 Deduction Limit 2024 Pdf. You can contribute up to $90,000 in a single year for each beneficiary ($180,000 for a married couple filing jointly) without incurring a federal gift tax. The amount is prorated over five years;.
In addition to the new tax deduction amount, iowa’s 529 account owners will have the ability to transfer up to a lifetime limit of $35,000 to a roth ira in the beneficiary’s name. You can contribute up to $90,000 in a single year for each beneficiary ($180,000 for a married couple filing jointly) without incurring a federal gift tax.
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