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V
vishnu-deevi
March 26, 2025
Question

Whats the max cap on virginia 529. Can I open multiple accounts and contribute 4000 USD into each account and get state tax deduction for all contributions.

  • March 26, 2025
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    D
    DavidD66
    March 26, 2025

    Yes.  Invest529 account owners who are Virginia taxpayers may deduct contributions up to $4,000 per account per year with an unlimited carryforward to future tax years, subject to certain restrictions. Those age 70 and above may deduct the entire amount contributed to an Invest529 account in one year. 

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