Iowa 2024 529 Contribution Limits. 529 contribution limits are set by states and range from $235,000 to $575,000. Recent state legislation has increased the tax deduction amount up to $5,500 for contributions to iowa’s two 529 plans, college savings iowa and the iadvisor 529 plan, and iable, iowa’s achieving a better life experience.
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. You can contribute as much money as you want, but there are tax incentives to stay within the gift tax limits.