VIRGINIA 529 PLAN · TAX YEAR 2026
Virginia 529 tax deduction calculator
Virginia lets you deduct up to $4,000 per beneficiary of contributions to Virginia's 529 plan. A single filer with $75,000 of wages who contributes $5,000 saves $230 of Virginia tax.
State tax saved
- Virginia tax saved
- $230.00
- Deduction
- $4,000.00
- Deduction limit
- $4,000.00
- Virginia tax before
- $3,498.40
- Virginia tax after
- $3,268.40
Virginia tax saved by contribution
With $75,000 of wages and one beneficiary.
| Contribution | Single | Married filing jointly |
|---|---|---|
| $1,000 | $58 | $58 |
| $5,000 | $230 | $230 |
| $10,000 | $230 | $230 |
| $20,000 | $230 | $230 |
Virginia 529 tax questions
Does Virginia have a 529 tax deduction?
Yes. Virginia lets you deduct up to $4,000 per beneficiary of contributions to Virginia's 529 plan.
How much does a $5,000 529 contribution save in Virginia?
$230 of Virginia tax for a single filer with $75,000 of wages, and $230 for a married couple filing jointly with the same income.
Which 529 plans qualify for Virginia's deduction?
Only Virginia's 529 accounts: Invest529, Prepaid529, CollegeAmerica and CollegeWealth.
Can Virginia 529 contributions above the limit be carried forward?
Yes, with no time limit, until the whole contribution is deducted. Only the account owner of record can take the deduction.
What the calculator leaves out
- Virginia's limit is per account; the calculator assumes one account for each beneficiary.
- Account owners 70 or older can deduct the whole contribution; the calculator applies the limit to everyone.
The calculator assumes the contribution goes to a plan that qualifies for the state's benefit: the state's own plan unless the state accepts any 529 plan. Wages are the only income, and they stand in for the income a state tests against its limits. Per-beneficiary limits assume the contribution is split evenly. Federal tax does not change, because 529 contributions aren't federally deductible. Carryforwards of earlier contributions, recapture on nonqualified withdrawals and city or school district taxes are left out.