New Jersey 529 Tax Deduction Calculator
2026 rulesEnter your contribution to see how much New Jersey lets you deduct and what it saves you this year.
Your numbers
Result
New Jersey tax saved
- Total contributed$5,000
- Deductible this year$5,000
- New Jersey tax saved this year$276
- Saved per $1,000 deducted$55.25
Only for returns with gross income of $200,000 or less.
New Jersey at a glance
- Benefit
- New Jersey lets you deduct up to $10,000 of contributions to NJBEST each year.
- Plans that count
- NJBEST.
- Good to know
- Only for returns with gross income of $200,000 or less.
Questions
Is there a New Jersey tax deduction for 529 contributions in 2026?
New Jersey lets you deduct up to $10,000 of contributions to NJBEST each year.
What can 529 money pay for without tax?
College tuition, fees, books, and room and board for students enrolled at least half time; up to $20,000 a year of K-12 tuition and expenses from 2026; apprenticeship costs; and up to $10,000 of student loan payments over a lifetime. States can treat some of these differently.
What happens to the New Jersey deduction if I withdraw for something else?
A nonqualified withdrawal is taxed on its earnings, plus a 10% federal penalty, and New Jersey can add back the deductions you took on the money you withdraw.
More for New Jersey
- New Jersey income tax calculator
- New Jersey capital gains tax calculator
- New Jersey estimated tax calculator
- New Jersey estate and inheritance tax calculator