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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I like to wait until the end of the year to submit my reimbursement claim . . . and then I immediately sock the 5K into my daughter's 529 account.  Forced savings![/quote]

+1[/quote]

+2, though I only put $4k of it in the 529 since that's the max VA tax benefit per account.[/quote]

You can get a deduction for over 4k in VA, you just have to put it in different investments or have your spouse open an account as the account owner. The below language is from VA Tax ruling 10-240 (emphasis added):

"The Virginia college savings plan provides that each investment by the same account owner establishes a separate VEST account if the account owner, beneficiary OR portfolio is different."

So if you have 1 kid and invest 4k in the 100% stock portfolio and another 4k in the international stock portfolio you could take the the deduction on all 8k. Your spouse would count as a separate account holder, so any portfolios they contribute to would also be separate. The deduction in VA is nearly unlimited, you just need to spread it around the investment choices. [/quote]

I'm not sure your reading of that ruling is correct, or if it is, it only applies to VEST accounts. See Transaction 4: http://www.policylibrary.tax.virginia.gov/OTP/Policy.nsf/803d7a64c617f9f8852569520038e932/57d51cfae034f1e4852577b300680491?OpenDocument
[/quote]

VA has three options - VEST (individuals invest in any of a set of investment options straight from va529.com), prepaid (buy a semester at a time with pricing based on age), and collegewealth/collegeamerica (investments through brokers). The flexibility applies to VEST accounts, as the language I quoted clearly states, not to College America (which has to be done through a broker), or prepaid (where you can't get a tier 1 semester for 4-5k). The ruling is pretty clear.
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