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MD and WI preparers/any one since most state follow the same


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Posted (edited)

I have a MFJ client who moved from MD to WI in August and they contributed to their daughter's 529 college fund in MD.  I know that if you are a full time resident in MD, you can deduct that on the MD return but I am not sure if you can take a deduction if you are part year resident and I don't have time or energy to find out. Any one knows if I can deduct something on MD or WI returns?

 

I like WI part year return... it is straight forward.

Edited by Pacun
Posted

I would take contributions made while a resident of MD only. The way MD PY calc's work, it's a double edged sword. The lower you make MD income, the lower your itemized deductions and personal exemptions become.

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