Ohio 529 Contribution Limit 2024 Income Tax. You may deduct up to $4,000 per beneficiary for amounts contributed to an ohio 529 (collegeadvantage) savings plan and included in your federal adjusted gross. In addition, ohio residents are eligible to deduct up to $4,000 of their 529 plan contributions per beneficiary, per year, from their state of ohio taxable income.

Beneficiaries are allowed to roll over up to $35,000 over their lifetime into a roth ira in their name (not the original 529 account holder’s name). You may deduct up to $4,000 per beneficiary for amounts contributed to an ohio 529 (collegeadvantage) savings plan and included in your federal adjusted gross.