Form PA-40 Schedule P Refund Donations to Pennsylvania 529 College Savings Program Accounts - Pennsylvania

What Is Form PA-40 Schedule P?

This is a legal form that was released by the Pennsylvania Department of Revenue - a government authority operating within Pennsylvania.The document is a supplement to Form PA-40, Pennsylvania Income Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form PA-40 Schedule P?
A: Form PA-40 Schedule P is a tax form used to report donations made to Pennsylvania 529 College Savings Program accounts.

Q: What are donations to Pennsylvania 529 College Savings Program accounts?
A: Donations to Pennsylvania 529 College Savings Program accounts are contributions made to a college savings account for the purpose of funding higher education expenses.

Q: Why would someone make donations to Pennsylvania 529 College Savings Program accounts?
A: People may make donations to Pennsylvania 529 College Savings Program accounts to save money for higher education expenses, such as tuition, room and board, or textbooks.

Q: Is there a tax benefit for making donations to Pennsylvania 529 College Savings Program accounts?
A: Yes, there is a tax benefit for making donations to Pennsylvania 529 College Savings Program accounts. The donated amount may be deducted from taxable income on the Pennsylvania state income tax return.

Q: Do I need to fill out Form PA-40 Schedule P if I made donations to Pennsylvania 529 College Savings Program accounts?
A: Yes, if you made donations to Pennsylvania 529 College Savings Program accounts, you need to fill out Form PA-40 Schedule P to report those donations.