Ohio Tuition Trust Authority

Tax Benefit Tool

Compare a tax-free account with a taxable account

See how the advantages of tax-­free growth with a 529 savings plan can really add up. If you are saving for college in a taxable savings account, you'll want to use this tool. See how your savings can grow when invested in a 529 account instead of a taxable savings account.

Your savings balance today
Planned annual contributions
Future lump-sum contribution
Years until lump-sum contribution
Years until college
Hypothetical annual rate of return
Federal tax rate
State tax rate


The savings amounts depicted by this calculator are estimates based on certain assumptions. There is no guarantee that savings projected will be achieved. The calculation results are estimates based on the information you have provided. To help understand and use the calculation output effectively, please note the following items:

This calculator provides for a lump-sum amount that you expect to add to your child's savings at some time in the future. Enter the amount expected here, and enter the number of years until it will be added to the account on the next line.

For example, you might consider moving money from a taxable savings account to a 529 account or you might be expecting a tax refund that you could add to your child's savings.

State income tax rates vary from 0% to approximately 13% of earned income. Check you most recent state tax return for the rates used in your state.

The calculator uses the specified hypothetical annual rate of return to estimate hypothetical earnings on education savings. The default is set at 6%. You may specify another hypothetical annual rate of return. There is no guarantee that the rate used here will be achieved.

Please choose “allow pop-ups from this site” in your browser to ensure the report is visible.

Report Options:

  1. PDF Only. Click "Download" to generate your PDF report.

  2. PDF and Email. Provide your email address before clicking "Download" to also send yourself a copy*. (Optional)

*Please note that your email address will not be captured or stored. It will only be used in this instance to send you a copy of this report.