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Deductions & credits
Yes, HOWEVER
a roll-over is only allowed once every 12 months per student/beneficiary, so if anyone else has an account for that same person, their roll-overs would count towards the limit.
Also, if you received any tax benefit for the original contribution(s), that tax benefit would need to be re-payed, or "recaptured" for the state that gave the original credit.
(A COVERDELL account would NOT be treated the same as a 529 account)
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‎February 10, 2022
1:17 PM
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