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Reply to "529 Plan: Transfer from DC to UT after 2 year recapture"
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[quote=Anonymous][quote=Anonymous]I live in DC. Can I contribute to the DC 529, get the tax deduction, and then wait until the two year recapture period expires before transfering funds each year to the UT plan for lower fees and greater investment choices. After the first two years, it would just be an annual task. I checked and there don't seem to be any transfer fees (Calvert - DC) to the UT Plan and I also asked the DC College Savings plan which responded without objection, but am I missing anything? I just want to be compliant with the rules.[/quote] This is what we've done. We put $50,000 into plans last year, and are just sitting on it for 2 years before rolling to UT. Technically the tax-benefits are good for 5 years (I'd have to check, this is from memory), even though the recapture is only 2. Thus, I can take the deductions even after I've moved the funds out as a rollover from the prior years. [/quote]
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