Mechanics of paying from 529 account to college

[Anonymous]

https://monumentwealthmanagement.com/resource/maximizing-your-virginia-529-plan-tax-deductions-a-wealth-advisors-take-monument-wealth-management/#:~:text=When%20it%20comes%20to%20saving,to%20max%20out%20the%20deduction

Says you can

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here.

OMG you guys are even more clueless than I am. I do not have a FA, but everything I said is 100% accurate.

So why are you here asking your questions if you are convinced you are right?

But sure…open 10 529 accounts.

OP here. Not a troll.

I was just as incredulous as you were when I first heard about it. I understand your reaction.

If anyone actually care to check, you would find that it is true. As insane as it sounds, it is true.

My questions are more nitty gritty of college payment mechanics. Can you pay a little bit from many accounts. How does that work, etc.

The colleges don't care, you just tell Va529 to what account to send the money.

And you are absolutely correct about Virginia. The other posters have no idea what they are talking about.

The only downside to that is it’s $10 feet to pay electronically, so you’re looking at $100 in fees. You could have them write checks, but then you have less control of market timing.

VA doesn’t have a hold requirement? In DC years ago it was 2 years for the deduction to count.