When I contribute to a 529 college savings plan, can I deduct the contribution from my California income tax as part of the gift tax exclusion (up to $15000)?


No. 529 contributions are not tax-deductible in California. The Gift Tax exclusion isn't really appropriate, either, because gifts are after-tax anyway. Gift Taxes are extra taxes the giver pays beyond the exclusion amount.

  • Really the key point is that the "gift tax exclusion" does not relate to a deduction from income. – nanoman Jan 14 at 20:55

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