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A 529 plan is a tax-advantaged savings plan designed to help parents or grandparents cover the costs of their child’s or grandchild’s education. ... which means the rules and investment ...
A 529 plan allows parents, grandparents, guardians, or other loved ones to put money into a tax-advantaged account to invest, (ideally) grow, and use it for qualified education expenses, such as ...
A 529 plan allows a participant to set up a tax-advantaged account to allow a beneficiary to use the funds for qualified education expenses. The participant deposits after-tax money in the account.
A 529 plan gives you a lot of flexibility about who can use the plan and when, says Van Sant. “Parents can change the beneficiaries on a 529 plan in case the originally designated child chooses ...
Previously, distributions from a grandparent-owned 529 plan had to be reported as untaxed student income, which could reduce financial aid eligibility by as much as 50% of the withdrawal amount.
A parent or grandparent usually sets up a 529 plan for a child or grandchild, who is the beneficiary. ... Thanks to new rules set out in the Setting Every Community Up for Retirement Enhancement ...
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