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Reply to "Rich people - how much in 529?"
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[quote=Anonymous]Virginia also has a great tax deduction and results in us getting a huge refund each year. We put in $7200/year per kid (14,400 total), and that ends up more than the max amount for the tax deduction, so I’m not sure the limit. We recently split this up so that each of us puts in $300 per month per kid, instead of one person having an account that does $600 per month per kid, bc the tax deduction is per person, and you have to have an account in each spouse’s name to get double the amount when married. [/quote]
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