Oregon 529 College Savings Network account contributions (ORS 315.650) [Credit code 896]
A tax credit of up to $150 ($300 if married filing jointly) is available for taxpayers who make contributions to an Oregon 529 College Savings Network account. To qualify for the credit, you must make contributions during tax years beginning on or after January 1, 2020. Contributions may be made up until the date the return is filed or the due date (not including extensions), whichever is earlier.
What is an Oregon 529 College Savings Network account?
These state-sponsored plans qualify for special tax status as qualified tuition programs under (IRC Section 529). Account holders can save money for college for any designated beneficiary. Once you open an account and select an investment option, the Oregon Savings Network board and a private investment company manage your investment
For more information, go to www.oregoncollegesavings.com or call 1 (866) 772-8464.