Hi, I'm a GA resident, opening 529 accounts for each of 3 kids. State will give tax deduction for up to $4000 of contributions per beneficiary if married filing jointly.
My question is, can I open accounts for myself and wife and contribute to get additional tax break and then transfer that money to one of the kids' accounts when the time comes?
Also, any rule for how long the money has to be in the account before it can be transferred?
Thanks
