does that mean I had better get the rest of my contributions in before 12/31/12 if i want the state tax decuction for 2012? I wonder if they would even recognize the receipt of contribution by then if I acted now?Contribution deadline is receipt (not postmark date) by the last business day of the year based on agency calendar.
VA 529 deadline for state tax deduction
VA 529 deadline for state tax deduction
I was thinking that I had until tax day to make additional 2012 contributions for the VA state tax decuction (up to $4,000 per account). But after reading this:
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Re: VA 529 deadline for state tax deduction
I would interpret that to mean the check or funds had better make it into your account on or before the last calendar day (12/31/12) or the state will not recognize your contribution for the 2012 tax year. They likely will not recognize mail received yet unprocessed as being a valid 2012 contribution.Xanadu wrote:I was thinking that I had until tax day to make additional 2012 contributions for the VA state tax decuction (up to $4,000 per account). But after reading this:
does that mean I had better get the rest of my contributions in before 12/31/12 if i want the state tax decuction for 2012? I wonder if they would even recognize the receipt of contribution by then if I acted now?Contribution deadline is receipt (not postmark date) by the last business day of the year based on agency calendar.
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Re: VA 529 deadline for state tax deduction
I agree. Question: other than IRA contributions which may be made up until tax day in the following calendar year (ie, April 2013 for tax year 2012), are there any other instances where something that is done in 2013 can affect 2012 taxes?