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April 30, 2023
Question

529 plan Super funding for gift tax

  • April 30, 2023
  • 0 replies
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I have contributed $25000 to my daughters 529 plan in 2022.  I plan to use the super funding for gift tax purpose. The total limit (for 5 years) would be $80000 for 2022.  If I contribute $25000 again in 2023, what would I put in schedule A in 2023 gift tax return? I plan to put $16000 in 2022 gift tax return. Is it ok to contribute total $80000 - $25000 any time in next 5 years?