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Reply to "529 Questions (DC)"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is not being stated accurately. It's $4,000 per child, per adult. So if you have two children and two parents filing jointly, you can deduct $16k. [/quote] Not according to my accountant. It is $4k per adult, regardless of number of children. $8k max per couple.[/quote] We were equally as confused but called to clarify the details and are now set. We are a married file jointly couple and parents to 4 children. I set up an account for 2 children placing $2k in each ($4k total for 2017). DH did the same for the other 2 children. Collectively, we contributed $8k into 529s in 2017. The deduction in DC taxes helped create a nice little refund which we immediately contributed to the 2018 529 contributions. [/quote]
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