529 Question

[Franklin]

Could you pay into a 529 plan and then in the same year pay college tuition from that 529 - simply for the sake of getting the state tax deduction?

[NoStacheOhio]

My understanding is that yes, you can contribute and take a withdrawal in the same year, but it may vary with your specific plan.

http://ibd.morningstar.com/article/article.asp?id=604887&CN=brf295,http://ibd.morningstar.com/archive/archive.asp?inputs=days=14;frmtId=12,%20brf295

[seattlecyclone]

This will definitely depend on your specific state's laws. It could go either way.

[FireZoneBlitz]

Could you pay into a 529 plan and then in the same year pay college tuition from that 529 - simply for the sake of getting the state tax deduction?

In NY you can - I've done it.