What if I contributed more than $2,000 per beneficiary this year? Can my excess contributions to the Ohio College Advantage 529 Savings Plan be carried over to next year?
Qualifying amounts that you contributed ABOVE the $2,000 limitation may be deducted on future years' returns. These contributions that you carry over are still subject to the annual $2,000 per beneficiary limitation, and you may carry them over until all unused amounts have been deducted.
Married taxpayers may deduct up to a maximum of $2,000 per beneficiary whether their filing status is married filing jointly or married filing separately.