Virginia 529 Tax Deduction Calculator

2026 rules

Enter your contribution to see how much Virginia lets you deduct and what it saves you this year.

Your numbers

Filing status

Contribution per child this year

Children (beneficiaries) you contribute for

Household AGI

Result

Virginia tax saved$230

Total contributed$5,000
Deductible this year$4,000
Carried forward to later years$1,000
Virginia tax saved this year$230
Saved per $1,000 deducted$57.50

Only the account owner can claim it.

Virginia at a glance

Benefit: Virginia lets you deduct up to $4,000 per account of contributions to Invest529 each year.
Carryforward: Unlimited carryforward of amounts over $4,000; account owners 70 or older can deduct everything in one year.
Plans that count: Invest529.
Good to know: Only the account owner can claim it.

Questions

Is there a Virginia tax deduction for 529 contributions in 2026?

Virginia lets you deduct up to $4,000 per account of contributions to Invest529 each year.

What can 529 money pay for without tax?

College tuition, fees, books, and room and board for students enrolled at least half time; up to $20,000 a year of K-12 tuition and expenses from 2026; apprenticeship costs; and up to $10,000 of student loan payments over a lifetime. States can treat some of these differently.

What happens to the Virginia deduction if I withdraw for something else?

A nonqualified withdrawal is taxed on its earnings, plus a 10% federal penalty, and Virginia can add back the deductions you took on the money you withdraw.