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Reply to "529 for private school?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Are you in VA? If so, you can put $10k in 3 low risk VA529 accounts ($4k + $4k + $2k) then write it off your state taxes even if you immediately use it to pay private school. You would need to save for college in different accounts if you want more state deductions.[/quote] You can't do that. You can only have one VA 529 account for each beneficiary/owner combo. If you are married, you can have one for each child and your spouse can have one for each child, so a max of $8k in deductions. But OP said she was saving for college anyway, so she could max out the $8k (or $4k if she's not married) without also funding for private school.[/quote] You're wrong, each individual fund is a separate account and you can deduct $4k for each account. For example you can have the same owner/bene on Total Stock, Aggressive Growth, and Target Date and deduct $4k for each one then do the same for other child.[/quote]
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