Yes. How much you can deduct depends on your age, how much you paid toward a prepaid tuition contract or contributed to a savings account this year, and if your payments to these accounts in a prior year were more than the maximum deduction allowed.
If the owner of the account is at least 70 years old this year, every dollar paid in a prior year that wasn't deductible in that year because of a maximum limit and every dollar paid this year is deductible. There is no limit.
If you're under 70 years old this year you can deduct up to $4,000 for each account you own. This dollar limit applies to current year payments and prior year payments available for a deduction this year.
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