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California’s ScholarShare 529 is available to ... A 529 plan is an education savings plan that allows you to save for qualified education expenses. While the 529 plan was developed to allow ...
The earnings portion of money withdrawn from a 529 plan that is not spent on eligible expenses (or rolled over into an ABLE account for any eligible family member) is subject to income tax, an additional 10% federal tax penalty, and the possibility of a recapture of any state tax deductions or credits taken. For example, if $50,000 is ...
Scholarshare is the California State 529 plan, a tax-advantaged investment vehicle designed to encourage saving for the future higher education expenses of a designated beneficiary. [ 1 ] Notes
Apprenticeships are now considered a qualified higher education expense if the apprenticeship is registered and certified with the U.S. Department of Labor. 7. 529 plans can be used to repay ...
You can use funds from your 529 plan to pay for qualified education expenses at eligible institutions nationwide. Withdrawals for qualified expenses are tax-free, but non-qualified withdrawals are ...
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.
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