529 Plans

Virginia 529 Plan Rules

Virginia's plan is Invest529. Virginia allows a deduction of up to $4,000 per account a year, with unlimited carryforward. Virginia follows the federal rules. Earnings on qualified withdrawals excluded from federal income are excluded from Virginia taxable income, and K-12 expenses up to $20,000 count as qualified.

Plan: Invest529
State tax break: Virginia allows a deduction of up to $4,000 per account a year, with unlimited carryforward.
K-12 withdrawals: State tax-free
Detail: Virginia follows the federal rules. Earnings on qualified withdrawals excluded from federal income are excluded from Virginia taxable income, and K-12 expenses up to $20,000 count as qualified.
Maximum balance: $675,000 per beneficiary
Federal K-12 limit: $20,000 a year per student

For the federal conditions on tutoring and the full list of K-12 expenses, see Can you use a 529 plan for tutoring?

Email me the Virginia 529 rules

The state and federal rules on this page, to share with whoever does your taxes.

I consent to receive transactional text messages (Conversational/Alerts, Appointments, and Booking Confirmations) from Dewey Smart at the number provided. Consent is not a condition of purchase. Msg & data rates may apply. Msg frequency varies. Reply STOP to opt out, HELP for help. See our Privacy Policy, Terms, and SMS Terms.

I agree to receive recurring automated marketing & promotional text messages from Dewey Smart at the number provided. Consent is not a condition of purchase. Msg & data rates may apply. Msg frequency varies. Reply STOP to opt out, HELP for help. See our Privacy Policy, Terms, and SMS Terms.

We respect your privacy. Unsubscribe anytime.

Frequently asked questions

Does Virginia give a tax deduction for 529 contributions?

Virginia allows a deduction of up to $4,000 per account a year, with unlimited carryforward.

Can I use a Virginia 529 plan for tutoring?

Federal law allows it, and this state follows the federal treatment of K-12 withdrawals. Virginia follows the federal rules. Earnings on qualified withdrawals excluded from federal income are excluded from Virginia taxable income, and K-12 expenses up to $20,000 count as qualified. Under the federal rule, the tutor cannot be related to the student and must be a licensed teacher, have taught at an eligible educational institution, or be a subject matter expert.

Can I use a Virginia 529 plan for private school or other K-12 costs?

Federal law allows up to $20,000 a year per student for K-12 tuition and the other listed expenses. Virginia follows the federal rules. Earnings on qualified withdrawals excluded from federal income are excluded from Virginia taxable income, and K-12 expenses up to $20,000 count as qualified.

What is the maximum balance in a Virginia 529 plan?

$675,000 per beneficiary.

State rules: Invest529 official documents. Federal rules: IRS Tax Topic 313 and Public Law 119-21. Read October 6, 2026. This page is general information, not tax advice.