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Don't Miss the April 15th Tax Deduction Deadline

All Georgia taxpayers, regardless of income, may deduct up to $2,000 in contributions per year, per beneficiary. (Please note that a transfer of funds from another state's 529 plan is not eligible for the deduction. Recapture provisions apply)* While contributions made on or prior to April 15th are eligible for deduction on the preceding year's tax return, all contributions are credited based on the calendar year received unless the account owner specifies otherwise. However, we will gladly credit your pre-April 15th contributions to the previous calendar year upon request.

  • Contribution checks postmarked by April 15th are credited as a current year (2015) contribution unless the account owner specifies otherwise.
  • Phone contributions must be made by 4:00 p.m. (ET) on April 15th in order to be eligible for crediting as a 2014 (prior year) contribution. All contributions are credited as current year (2015) unless the account owner specifies otherwise.
  • Contributions made online must be completed and confirmed by 4:00 p.m. (ET) on April 15th in order to be eligible for crediting as a 2014 (prior year) contribution. If the 2014 radial button is not selected when making the subsequent online contribution, the contribution will be credited as a current year (2015) contribution.

Please review your confirmation statements and quarterly statements upon receipt to ensure the contribution year is correct for your records. Account owners who would like to change their contribution year, may do so by contacting a Path2College 529 Plan specialist at 1-877-424-4377 or in writing to the Path2College 529 Plan, P.O. Box 55924, Boston, MA 02205-9823, by December 31, 2015.

*Please read the Disclosure Booklet for full details on the state tax deduction guidelines.

 

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