MO$T Contributions

Article ID: 60249  

Question
MO$T Contributions

Answer

Exempt Contributions Missouri Savings For Tuition Program (MO$T)

The state of Missouri allows a subtraction from federal adjusted gross income for the amount of annual contributions made to the Missouri Savings for Tuition Program (MOST), the 529 plan administered by the Missouri Higher EducationDeposit Program, or any other qualified 529 plan. The maximum annual exempt contribution is $8,000 for single individuals or $16,000 for married couples filing a combined return.

If you are a participant claiming a subtraction for a contribution made to the savings program, you must attach your statement provided by the program manager. The statement must be in the name of a plan participant (account owner) claiming the subtraction.

 


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Views: 1594 Created on: Jun 15, 2013