Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "More 529 questions"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]I don't think there is an upper limit to what you can donate in one year. I don't believe gift transfers apply to funding your own child's 529. We put about $47,000 into a Maryland 529 (divided between a prepaid and an investment acct) when my son was 2 (an inheritance). Later we opened a second investment acct with a $15,000 lump sum. You are only allowed to deduct 5000 per year on Maryland state income tax for a couple (2500 per individual), but can deduct that over many years up to (I think) about $27,000. We did this with the advice of a fee based financial planner and a tax CPA. The financial planner does not recommend saving too much in 529 accts as they are inflexible ( can only be used for higher ed), so we also have other money we might tap on for college.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
