@Anonymous wrote:
Can I now contribute an extra $1K per year to the 529 without any gift/estate tax impacts?
Yes.
You can contribute the difference between the current annual exclusion and the $15,000 that is being prorated over five years.
For example, you can contribute $1,000 for 2022 ($16,000 - $15,000) and then $2,000 ($17,000 - $15,000) for 2023 since the annual exclusion is increasing to $17,000 in 2023.
