Don't Miss the April 15th Tax Deduction Deadline

You may be eligible to deduct up to $10,000 ($20,000 for taxpayers filing jointly) from your 2009 Oklahoma State adjusted gross income by contributing to the Oklahoma 529 College Savings Plan (OCSP), Oklahoma's 529 college savings program. Amounts deducted may be subject to recapture if a non-qualified withdrawal or rollover is taken (depending on the timing of such transactions), resulting in adverse Oklahoma income tax consequences. While contributions made in 2010 prior to April 15th are eligible for deduction on the preceding year's tax return, all contributions are credited based on the calendar year received. However, we will gladly credit your 2010 pre-April 15th contributions to the previous calendar year upon request.

Please review your confirmation statements and quarterly statements upon receipt to ensure the contribution year is correct for your records. Account owners who would like to change their contribution year, may do so by contacting a Oklahoma 529 College Savings Plan specialist at 1-877-654-7284 or in writing to the Oklahoma 529 College Savings Plan, P.O. Box 8193, Boston, MA 02266-8193, by December 31, 2010. Please read the Disclosure Booklet for full details on the state tax deduction guidelines.


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