Iowa 529 Contribution Limit 2024. Unlike retirement accounts, the irs does not impose annual contribution limits on 529 plans. Iowa offers a state tax deduction for contributions to a 529 plan of up to $5,500 for single filers and $11,000 for married filing jointly tax filers per beneficiary.
In 2024, individuals can gift up to $18,000 in a single 529 plan without those funds counting against the lifetime gift tax exemption amount. Good news, while there is a maximum aggregate 529 plan contribution limit, there is no annual 529 plan contribution.
