Is there anything stopping someone from opening and maxing multiple 529 accounts per year to maximize tax deductions? In VA the limit is 4K per account but accounts are transferable within immediate family so theoretically one could open accounts for multiple recipients and merge them to one later, right?

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I would contact a wealth/investment advisor to confirm.

Are you sure that is per account and not per beneficiary? Seems like way too big a loophole.

That’s a really low limit for VA so maybe multiple accounts works. Limit in IL for example is $20,000 for married couple.

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