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LaTurner also administered the Kansas Learning Quest 529 Education Savings and ABLE Savings Programs, which assist Kansans in saving for their future. [15] During his first year in office, he implemented changes to the Kansas Learning Quest and ABLE Savings Programs.
Key programs in the office are Bonds Services, Cash Management, Unclaimed Property, the Ag Loan and Housing Loan Deposit Programs and the Kansas 529 Education Savings Program, which has more than 143,000 accounts with total assets of over $2.7 billion. The Treasurer's office is a fee-funded agency.
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
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Image source: Getty Images. 1. Your money can only be used for four-year college. You can absolutely use a 529 plan to pay tuition at a four-year college.
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
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