Debi Mollie

Va 529 Contribution Limit 2024 Over 50. In turn, making large contributions all at once could lead to tax penalties. At that point, the accounts can grow higher through.

The only way to maximize your virginia 529 plan tax deductions on your virginia income tax return is to contribute to the virginia plan. In 2024, individuals can gift up to $18,000 in a single 529 plan without those funds counting against the lifetime gift tax exemption amount.