Save on Your South Carolina Taxes This Year
One of the Best Tax Deductions of Any 529 Plan
When you contribute to a Future Scholar 529 College Savings Plan, you can save for your child’s future and save on your state taxes all at the same time. South Carolina taxpayers can deduct 100% of their contributions to a Future Scholar account on their state income tax return—whether they’re the account owner or making a gift contribution to someone else’s Future Scholar account.
Tax-free Earnings and Withdrawals
Earnings in a Future Scholar account are not subject to federal or state income taxes. Withdrawals are also tax-free as long as that money is used for qualified expenses. A list of qualified expenses can be found on the common questions page.
Prior-year Deductions
South Carolina is one of a few states offering prior-year deductions for contributions to the Future Scholar 529 plan. You can deduct Future Scholar contributions on your South Carolina state tax return for the prior year all the way until the tax filing deadline.
Favorable Estate and Gift Tax Options
Contributions, up to the annual gift tax exclusion, are treated as a completed gift and are generally excluded from the account owner’s taxable estate. You can also make a larger one-time contribution by using the special five-year gifting option available only with 529 accounts. This allows you to contribute up to five times the annual gift tax exclusion in a single year. Consult your tax advisor to learn more.
Open an account today to start taking advantage of valuable tax benefits!
get started?
Subscribe to our mailing list
Contact Us
888.244.5674
Monday - Friday
8am - 7pm (EST)
Future Scholar 529 Plan
PO Box 219812
Kansas City, MO 64121-9812
© 2026 South Carolina Office of State Treasurer
Important Disclosures | Privacy and Security | Terms and Conditions
Investing involves risk including the risk of loss of principal. Please consider the investment objectives, risks, charges and expenses carefully before investing. Contact your financial advisor or visit futurescholar.com for a Direct Plan Program Description, which contains this and other important information about the Future Scholar 529 College Savings Plan. Read it carefully before investing. You should also consider, before investing, whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds and protection from creditors that are only available for investments in such state's qualified tuition program.
Tax treatment varies by state. The tax information set forth on this website is general in nature and does not constitute tax advice on the part of Columbia Management Investment Distributors, Inc., its affiliates or the South Carolina Office of State Treasurer. Please contact your tax advisor before making any tax related decisions.
The Direct Plan is sold directly by the Program and is limited to a specific group of investors, as described in the Program Description . You may also participate in the Advisor Plan, which is sold exclusively through financial advisors. The Advisor Plan offers additional investment choices, but the fees and expenses are higher. Please contact your financial advisor for additional information on the Advisor Plan.
The Office of State Treasurer of South Carolina (the State Treasurer) administers the Program and has selected Columbia Management Investment Advisers, LLC and Columbia Management Investment Distributors, Inc. (Columbia Management) as Program Manager. Columbia Management and its affiliates are responsible for providing certain administrative, recordkeeping and investment services, and for the marketing of the Program. Columbia Management is not affiliated with the State Treasurer.