Limit for each contributor. This is the most you can contribute for the benefit of any one child for any year, regardless of the number of education IRAs set up for the child. However, this limit may be reduced as explained below. Figuring the limit. This is the amount you can contribute for each child.
Excess contributions are the total of the following three amounts.
All contributions to a child's education IRA for the year if any amount is also contributed during the year to a qualified state tuition program on behalf of the same child. The withdrawn earnings must be included in the beneficiary's income for the year in which the excess contribution is made. The excise tax also does not apply to any rollover contribution.