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Reply to "529 contribution planning question"
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[quote=Anonymous][quote=Anonymous]Double check your assumption regarding the decirations. In md the state deduction is per kid not per contract/taxpayer. [/quote] I think you are wrong on this. The deduction is $2500 per contract per beneficiary, so if both parents open accounts then each parent can claim 2500 per kid for the prepaid plan and 2500 per kid for the savings plan. If you are in MD the prepaid plan pays out Md-CP tuition even for private schools so it is a pretty good option. Also I have never heard anyone suggest IN as the best plan for out of state people. My suggestion would be Utah. [/quote]
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