Pay a Single Private K-12 Tuition with Multiple 529 Accounts

[m1chip]

We have a new born baby whom we'd like to save now and send to a private school. The private school we liked has a tuition at around 50K a year. Our question is: would it be technically possible for my spouse and I to open multiple 529 plans in different states for the same beneficiary and then withdraw from these accounts simultaneously when the child reaches school age. Hypothetically, 5 separate 529 accounts each withdrawing $10,000 a year to pay for private school tuition while enjoying the tax-free benefit for the gains.

[dcandmc]

You can certainly open multiple 529 accounts in different states and withdraw from the accounts simultaneously, but the $10,000/year limit for K-12 tuition is per beneficiary, not per 529 account. So you could withdraw $2,000 from each of five accounts every year, but you would still be limited to spending a maximum of $10,000 total each year from 529 accounts for K-12 tuition for the same beneficiary.

[m1chip]

Thanks!! This means that accounts opened by grandparents for the same beneficiary would also be subject to this limitation as well, right?

[dcandmc]

Yes. The yearly limit is per beneficiary. It doesn't matter which 529 account the money comes from.