There has been a change in how much you are able to deduct on contributions made to your 529 Plans.
Iowa residents can now deduct the first $2,685 they contribute to each account from their 2008 state taxable income. This is a new contribution amount for the year as it was previously set at $2,595 in 2007. Remembering to adjust your contributions through automatic investment or employer payroll deduction will ensure that you are making the most of the in-state tax deduction.