Ohio 529 Contribution Limits 2024. In 2023, you can contribute up to $17,000 to a 529 plan ($34,000 as a married couple filing jointly) and qualify for the annual gift tax exclusion, which lets you avoid the gift tax. They each contribute $5,000 ($10,000 total) to a 529 savings plan for their grandson.

Ohio also operates a prepaid tuition/guaranteed savings plan (guaranteed savings fund) that was closed to new enrollments in 2003. 529 plans typically increase the contribution limit over time, so you may be able to contribute more.