Updated October 4, 2026. Quick answer: Yes. The state’s MACS disclosure booklet says “Contributions to an Account or Accounts are deductible for Mississippi income tax”, with “a maximum amount of $10,000 for a single filer or $20,000” for joint filers.
What Mississippi allows for 529 contributions
| Item | What the documents say |
|---|---|
| Treatment | Deduction on the Mississippi return |
| Limit | $10,000 for a single filer; $20,000 for joint filers, per taxable year |
| Plans that qualify | Accounts in the Mississippi plan; the booklet says the treatment applies only to Mississippi taxpayers |
| Not-qualified withdrawals | The contribution portion is added to Mississippi gross income to the extent previously deducted; the earnings portion is also taxed |
| Source | Mississippi State Treasury, MACS disclosure booklet (July 2020); Treasury, February 2025 |
A $10,000 contribution by a married couple
A married couple filing jointly who put $10,000 into a MACS account for one child can deduct the whole $10,000, because the joint limit is $20,000.
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When the deduction comes back
The booklet says “The contribution portion of a Non-Qualified Withdrawal will also be added to” Mississippi gross income, and that the “tax treatment in connection with the Plan applies only to Mississippi taxpayers”.
What the documents do not say
- Whether excess contributions carry forward to a later year.
- Whether contributions to another state’s plan qualify.
- The only archived document that prints the dollar limits is the Treasury’s July 2020 booklet; no newer official document with the figures was archived. A February 2025 Treasury page confirms the deduction exists.
What changes in 2026
No change for tax year 2026 appears in the documents read for this page.
Federal rules
A state break sits beside the federal rules for 529 plans: the statute is 26 U.S.C. 529 and the IRS explains it in Publication 970, Tax Benefits for Education.
Common mistakes
- Treating the 2020 booklet figures as automatically current; confirm with the Treasury before relying on them.
Related: how Mississippi taxes retirement income, whether Mississippi taxes pensions, the five questions behind any 529 state tax break, and the state-by-state table of 529 deductions.
Sources
- MACS Disclosure Booklet (Mississippi Affordable College Savings Program): https://treasury.ms.gov/wp-content/uploads/2022/12/MACS-Disclosure-Booklet.pdf
- There’s Still Time to Reduce Your 2024 Taxes: https://treasury.ms.gov/2025/02/21/theres-still-time-to-reduce-your-2024-taxes/
Sources: the primary documents linked above, read on October 4, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer, the plan administrator or the agency itself is the right place to confirm anything consequential.