Iowa 529 Plan Contribution Limits 2024 Over 50. 529 plans have no annual federal contribution limits. Here’s what you need to know about 529 plan contribution limits.
In turn, making large contributions all at once could lead to tax penalties. Iowa offers a state tax deduction for contributions to a 529 plan of up to $5,500 for single filers and $11,000 for married filing jointly tax filers per beneficiary.