State 529 Contributions & Withdrawal

[rwheeler125]

I see that I have to offset the amount that I contributed to my daughters 529 plan with the withdrawal for a qualified expense... So if the withdrawal exceeds the contributions, do I reflect a negative amount?

[KrisD15]

No, if you withdrew more than you contributed, you simply will not enter the contribution since you will no longer be eligible for that credit. 

[rwheeler125]

Thank you for the prompt response!  2 add on questions:

1. As for the contribution to the 529, is that lifetime? It does not state "2023" specifically in TT.
2. If I have 3 separate 529 plans for my 3 kids, 2 of which are in College, can I still claim the youngests contributions, since there is no withdrawal?

[Hal_Al]

Which state?

[rwheeler125]

MI