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G
gstelma
April 12, 2021
Question

Maryland College Investment Plan

  • April 12, 2021
  • 1 reply
  • 0 views

We opened two accounts for our grandsons and deposited $10,000 in each.  The maximum we can claim is $2,500 per student.  Will we be able to carry over to next year's taxes?

    1 reply

    J
    JohnW152
    April 12, 2021

    Yes.

    According to Here’s how it works on the Maryland 529 Tax Advantages & Benefits of 529 Plans page,

    Payments in excess of $2,500 per account can be deducted in future years until the full amount of payments has been deducted.

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