Every year I withdraw money I have in a Coverdell and deposit into a 529 plan for the same beneficiary. I believe this is considered a rollover and a qualified withdrawal. I do this because I do not want to contribute any more to these accounts, but still want to be able to get my state's contribution tax deduction. I already know this allowed as I have spoken to the 529 people multiple times about it. My question concerns the rule about only being allowed one 529 rollover in a 12 month period. In my situation, when would such a clock begin and end. Would it begin from the date of the Coverdell withdrawal? Or from the date of the 529 deposit? Would it end at next year's Coverdell withdrawal? Or next year's 529 deposit?
Maybe an example helps:
1) I withdrew $10,000 from the Coverdell on Dec 1, 2017.
2) I deposited $10,000 into the 529 plan on Dec 15, 2017
a) What is the earliest I can make the next Coverdell withdrawal? Dec 1, 2018, Dec 15, 2018 or maybe anytime as long as it's within 60 days of the deposit?
b) When is the earliest I can make the next 529 deposit? Dec 1, 2018, Dec 15, 2018?
The reason why this is important to me is I want to do this every year for the next 8 years. I did it last year in December. I may run out of days in December to do it if I'm not careful.
