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Reply to "Opening a 529 for the second child"
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[quote=Anonymous]Not sure if this applies to all states, but in DC you can deduct the first $4k of contributions from state taxes per person. You are only able to have one person as the owner of each account, and one beneficiary (though you can change the beneficiary). My oldest's 529 is in my name and the $4k deduction is nominally "mine" (though we file join and my husband has an account in his name with our youngest as the beneficiary so that he can also claim the $4k deduction. As I understand it having two accounts is the only way to claim $8k deduction per couple.[/quote]
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