Rhode Island 529 Tax Deduction Calculator

2026 rules

Enter your contribution to see how much Rhode Island lets you deduct and what it saves you this year.

Your numbers

Filing status

Contribution per child this year

Children (beneficiaries) you contribute for

Household AGI

Result

Rhode Island tax saved$48

Total contributed$5,000
Deductible this year$1,000
Carried forward to later years$4,000
Rhode Island tax saved this year$48
Saved per $1,000 deducted$47.50

Rhode Island at a glance

Benefit: Rhode Island lets you deduct up to $500 ($1,000 joint) of contributions to CollegeBound Saver each year.
Carryforward: Amounts over the limit carry forward to later years.
Plans that count: CollegeBound Saver.

Questions

Is there a Rhode Island tax deduction for 529 contributions in 2026?

Rhode Island lets you deduct up to $500 ($1,000 joint) of contributions to CollegeBound Saver 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 Rhode Island deduction if I withdraw for something else?

A nonqualified withdrawal is taxed on its earnings, plus a 10% federal penalty, and Rhode Island can add back the deductions you took on the money you withdraw.