State Treasurer reminds you to consider year-end, tax-deductible contributions
LINCOLN - As the year wraps up, you’re asked to consider contributing to accounts in the Nebraska Educational Savings Trust and the Enable Savings Plan.
State Treasurer Don Stenberg tells News Talk WJAG contributions to an account in either plan are deductible up to the maximum of $10,000 or $5,000 if married, filing separately.
Stenberg says the NEST 529 is a tax-advantage 529 college savings plan and provides four plans to help make saving for college simple and affordable.
“The Enable Savings Plan was created by the legislature a few years ago, and it’s a savings plan for persons with severe disabilities and in addition to be tax-deductible, assets in those accounts don’t count against eligibility for Medicaid or SSI for persons in that situation.”
Stenberg says a contribution to a NEST 529 or an Enable account is a thoughtful and long-lasting gift that is easy to deliver.
Contributions must be completed by December 31 to qualify for the 2018 tax year state income tax deduction.