I have a question regarding tax benefits related to the Missouri MOST 529 plan. My understanding is that contributions to Missouri and non-Missouri 529 plans of up to $16,000 (married) are deductible in computing Missouri taxable income.
Situation 1. If I live in Missouri and have 529 plans in both Missouri and Nebraska and make a $16,000 contribution to the Nebraska plan, can I deduct the $16,000 in BOTH Missouri and Nebraska assuming I had income from both states in the same year I made the contribution?
Situation 2. Same as above but I contribute $16,000 to Missouri MOST AND $10,000 to Nebraska’s 529 plan. How much can I deduct when computing Missouri taxable income?