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Image source: Getty Images. As of 2025, the contribution limits to 529 college savings plans range from a low of $235,000 to a high of $575,000. And here are the states with the highest ...
Second, not all 529 plans allow out-of-state residents to contribute. Third, not all 529 plans are equal. It's important to compare fees and investment options if you're thinking about using ...
State. Tax Treatment of 529 Plan Contributions. California. No deduction or credit. Illinois. Maximum deduction of $10,000 ($20,000 for married joint filers) per year
The 529 plan for the state in which one is domiciled may have higher fees (expense ratios) – which are not required to be disclosed in marketing materials and can range from under 0.4% to more than 1.1% – than the plans of other states. For example, a 529 plan in which $2,000 is deposited each year for 18 years would accumulate over $4,000 ...
Many states provide a tax deduction or tax credit for residents using an in-state 529 plan. ... associated fees, state tax benefits and your personal tolerance for risk. 1. Choose a Plan.
West Virginia’s plan is open to residents of any state — though special tax incentives are available only to West Virginia residents — and its funds offer some of the lowest annual fees ...
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But while there’s no federal cap, many states have set their own aggregate limits on the total amount you can contribute to a single beneficiary’s 529 plan. These state-imposed caps range from ...
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