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[quote=Anonymous][quote=Anonymous]You are not sure how a tax deduction will help your taxes?![/quote] No, I wasn’t saying that at all. Assuming this person already contributes to the 529 for future college expenses, with the max deduction in dc being $8k for annual 529 contributions, I’m just not sure it would give you much of a tax break—unless you’re putting in well below $8k as is? Also, sorry but an $8k tax deduction saves you like $600 on your taxes. It’s not a tax credit. [/quote]
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