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2. Are 529 College Savings Plans Tax Deductible?

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   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

3. 529 plan - Wikipedia

   en.wikipedia.org/wiki/529_plan

   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 ...

4. Are College Tuition and Education Expenses Tax-Deductible?

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   Plus, it may come with some tax benefits. Many 529 plans let you deduct contributions from your state income taxes, plus the growth and withdrawals are tax-free when used for qualifying education ...

5. These States Have the Highest 529 Plan Tax Deductions - AOL

   www.aol.com/states-highest-529-plan-tax...

   Opening a 529 plan is a tax-advantaged way to set aside money for college. The money you contribute can grow tax-deferred and qualified withdrawals are tax-free. While there is no federal tax ...

6. 529 plan contribution limits for 2024: What college savers ...

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   A 529 plan is a tax-advantaged way for parents to save for their children’s education expenses. The IRS doesn’t impose a contribution limit on 529 plans, unlike for other tax-advantaged ...

7. ScholarShare - Wikipedia

   en.wikipedia.org/wiki/ScholarShare

   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

8. State and local tax deduction - Wikipedia

   en.wikipedia.org/wiki/State_and_local_tax_deduction

   The Revenue Act of 1964 restricted the SALT deduction to state and local taxes on real property, personal property, income, general sales, and gasoline and other motor fuels. [17] Amid the 1970s energy crisis, Congress passed the Revenue Act of 1978, which eliminated the deduction for state and local taxes on gasoline and motor vehicle fuel.

9. What Is a 529 Plan? Everything You Need to Know - AOL

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   Many states provide a tax deduction or tax credit for residents using an in-state 529 plan. A 529 plan has an owner and a beneficiary, but they can be the same person.