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MD 529 College Savings Plan -- 2500 Deduction question for 2 kids

I opened an MD 529 college savings plan 8 years back and was advised by Fildelity that even if I open the account under my name I can deduct $10 between myself and my spouse for 2 kids.

 

I have been deducting $10k for last several years using TT Premier. Can you please confirm if I can deduct 10k ( 2500*2 (Kids) *2( husband and spouse) if I contributed 10K on the 529 plan in 2021

 

Thanks

Kevin

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Accepted Solutions
LenaH
Employee Tax Expert

MD 529 College Savings Plan -- 2500 Deduction question for 2 kids

Yes. For joint filers, it is a maximum deduction of $5,000 per beneficiary. 

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1 Reply
LenaH
Employee Tax Expert

MD 529 College Savings Plan -- 2500 Deduction question for 2 kids

Yes. For joint filers, it is a maximum deduction of $5,000 per beneficiary. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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