529 contribution limits are set by each state plan and generally apply a total account limit per beneficiary. They range from $235,000 to $575,000. You also might trigger the gift tax if you contribute more than $18,000 to a 529 account or multiple accounts with the same beneficiary in 2024. For Florida, the max limit is $418,000.
Some of the key things to look for in a 529 plan:
- State tax benefits. First, see what tax breaks your state offers for qualified higher-education expenses.
- Fees & cost. The less you pay in fees and costs, the more you'll have left to pay for college.
- Investment choices.
- Initial investment amount.
https://turbotax.intuit.com/tax-tips/college-and-education/information-on-529-plans/L0vrZiFuC
https://turbotax.intuit.com/tax-tips/college-and-education/cash-for-college-tax-free-529-plans/L63bMTpxr
@Tar41 Thanks for the question!!