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RI tax form instructions incorrectly describe 529 deduction

(March 7, 2007) - The instructions for the 2006 Rhode Island personal income tax forms incorrectly describe contributions to any "qualified tuition program" as being eligible for deduction subject to the annual deduction cap of $500 ($1,000 for a joint return).

The deduction is restricted to contributions made to Rhode Island's CollegeBoundfund 529 plan. The Division of Taxation has issued a notice of correction.

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