In 2019, grandparents contribute jointly owned funds to a § 529 qualified tuition plan on behalf of their granddaughter.
The maximum annual exclusion allowed to them is $150,000 ($30,000 × 5 years).

Question

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In 2019, grandparents can contribute up to $150,000 to a § 529 plan for their granddaughter by taking advantage of gift splitting and the five-year election, which allows them to treat the gift as if it were spread over five years, thereby maximizing the annual gift tax exclusion without incurring a gift tax.

In 2019, Grandparents Contribute Jointly Owned Funds to a §