Reply to 529 Questions (DC)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]1.  No, it is $4,000 per kid total deduction per family, not per parent.  So if you have two kids, you can contribute $2,000 into each parents account for each kid - $8,000 total.
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This is true but I think confusingly stated. A simpler way to understand this is that the max deductible in a year is $4000 per taxpayer, with a max of $8000 for married filing jointly. Divide it among kids however you want. From the DC 529 website:

"A special DC tax deduction. DC taxpayers can deduct up to $8,000 for married couples filing jointly, who have separate accounts, ($4,000 for individuals) when they contribute to their DC College Savings Plan account.1"

You can also dump money in over that limit and carry over the deductibility for future years. Nice work if you can get it!

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OP here.  Doesn’t the max deductible amount depend on number of kids?  Are you saying that a family with 5 kids has the same limit as a family with 1 kid?[/quote]

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