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Get your taxes done using TurboTax
That is correct, TurboTax reports the carryover value that you enter to the maximum of $2,500; it does not carryforward amounts to future years.
If you are the account owner or a contributor, you can subtract up to $2,500 per beneficiary from your Maryland state income for contributions in that calendar year. Contributions in excess of $2,500 per beneficiary can be subtracted for up to the next 10 years.
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March 20, 2025
1:06 PM