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

kevin_ny_2003 · ‎April 18, 2022

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

LenaH · ‎April 18, 2022

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"

View solution in original post

LenaH · ‎April 18, 2022

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"

Expert does your taxes

Do it yourself

Resources

Support

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