Deduction deadline for College Savings Iowa accounts is May 1

State of Iowa Treasurer Roby Smith is reminding Iowans there is still time to contribute to their College Savings Iowa 529 account and deduct those contributions from their 2022 state taxes. “An added benefit for Iowa taxpayers is the state income tax deduction. If you want to maximize your $3,522 Iowa state tax deduction for each plan beneficiary on your 2022 taxes, the deadline for contributions is May 1, 2023,” stated Smith.

Whether opening a 529 account or already owning at one, College Savings Iowa can help save for future education costs while also taking advantage of tax benefits. “I want to ensure Iowa taxpayers make the most of the tax deduction available to them,” Smith continued.

Additional tax benefits for all participants include tax-deferred earnings and tax-free qualified withdrawals. For more information about College Savings Iowa, call 888-672-9116 or visit