Paola Beatrisa

Pa 529 Contribution Limits 2024. Pa 529 account owners may deduct up to $17,000 (previously $16,000) of contributions to their accounts, or $34,000 (previously $32,000) for couples filing jointly, provided both spouses have at least $17,000 of income. For those saving for education expenses through a 529 plan, in 2024, individuals can contribute up to $18,000 per beneficiary annually without incurring a gift tax.

Since each donor can contribute up to $18,000 per beneficiary, a married couple can. Many states offer state income tax deductions or credits for contributions to a 529 plan.