Max 529 Contribution 2024 Colorado State University. State residents can deduct annual contributions to colorado 529 on their taxes — up to $20,700 if they’re single and $31,000 if they’re married and filing jointly. The maximum contribution limit pertains to each beneficiary.

In 2024, individuals can gift up to $18,000 in a single 529 plan without those funds counting against the lifetime gift tax exemption amount. Has your parent (s) or other relative set up a college savings plan for you, sometimes known as a 529 plan?