Skip to main content
2 of 2
edited tags
Chris W. Rea
  • 31.8k
  • 17
  • 103
  • 190

Tax Benefits for 529 Plan and Treasury Savings Bonds?

So here is my question (for tax year 2011):

  1. If I open and fund 529 College Savings Plan, do I get federal and state (Utah) tax deduction for my contributions?

  2. If I get a Treasury Savings Bond (Series EE/I), do I get federal and state (Utah) tax deduction?

I think they can be counted as "gifts" on the 1040 but I am not entirely sure.