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Reply to "Can I roll over 100% of the value of my DC529 plan to a Utah plan?"
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[quote=Anonymous]I looked at the savingforcollege.com website and here is what says on DC plan: State tax recapture provisions: The principal portion of nonqualified withdrawals from this plan, and rollovers within two years of account opening, are included in District of Columbia taxable income to the extent of prior District of Columbia tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability and withdrawals made on account of the beneficiary's receipt of a scholarship. Does this mean that after opening my dc 529, waiting 2 years I can roll it over to another state without being penalized for prior tax deductions? Should this be year by year ie i can rollover contributions from 2011 and before now? or everything as my kids accounts are much older than 2 years old.[/quote]
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