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Reply to "Maryland 529 Plan carryover"
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[quote=Anonymous][quote=Anonymous]I am hoping someone can help me on this issue. If I put a huge amount of money into the 529 plans for my 2 kids, I can only deduct $10k in my maryland tax return for DH and I. But the amount over $10k can be carryforward as a deduction for future years (up to 10 years). How do we keep track of this? Is this correct? So for those of you that put in a huge amount like say $100k, do you just deduct the $10k each year even though you did it in year 1? [/quote] That's what I've been doing for the last 6 years. [/quote]
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