My husband is thinking of opening two Ohio's 529 accounts - one for me and another one for my daughter and contribute $4,000 to each account. As state tax deduction is per beneficiary, we should be able to claim $8,000 state tax deduction thanks to these contributions, shouldn't we? But what if in the future we will change the beneficiary from myself to the same daughter (assume we won't have any other one to transfer the account to), i.e., my daughter will become the beneficiary of both accounts. Is there any state tax recapture for the deduction we claim before such a beneficiary change?
Also, likely that in the future we move to another state but still have passive income from Ohio, can we still get Ohio state tax deduction for our passive Ohio income from our Ohio's 529 contribution (when we file tax as part year or non-resident)?
