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[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]

Right, I'm the PP who said I only put in $4k, and as I noted, it's because that's the max benefit per account. My H could open up a second account and also get a $4K max tax benefit for the account, but we're not really interested in tying up all college savings in a 529.[/quote]

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