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  2. How to Change the Beneficiary of Your 529 Plan - AOL

    www.aol.com/change-beneficiary-529-plan...

    Reasons to Change Your 529 Plan Beneficiary. A 529 plan, named after Section 529 of the Internal Revenue Code, is a tax-advantaged savings plan designed to encourage saving for future education costs.

  3. My wife and I saved up $73,000 in 529 college savings plans ...

    www.aol.com/finance/wife-saved-73-000-529...

    These college savings plans offer tax-deferred growth and tax-free withdrawals when used for qualifying expenses, which for post-secondary education include tuition, fees and books, as well as ...

  4. Are 529 College Savings Plans Tax Deductible?

    www.aol.com/529-college-savings-plans-tax...

    With a 529 plan, the IRS allows you to contribute up to $90,000 ($180,000 for married joint filers) per beneficiary and pro-rate it over five years, so that it’s treated as five consecutive ...

  5. 529 plan - Wikipedia

    en.wikipedia.org/wiki/529_plan

    The Tax Cuts and Jobs Act also allowed rollovers from 529 plans to ABLE accounts, as long as the ABLE account beneficiary is the original 529 beneficiary or a qualified family member. The allowed annual rollover amount is set at the standard IRS gift tax exemption, less any other contributions made in the current tax year. [17]

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

    www.aol.com/finance/529-plan-contribution-limits...

    Finally, starting in 2024, families can roll unused 529 plan funds to a Roth IRA in the beneficiary’s name without triggering income taxes or penalties.This new rule, signed into law as part of ...

  7. Coverdell education savings account - Wikipedia

    en.wikipedia.org/wiki/Coverdell_education...

    A Coverdell education savings account (also known as an education savings account, a Coverdell ESA, a Coverdell account, or just an ESA, and formerly known as an education individual retirement account), is a tax advantaged investment account in the U.S. designed to encourage savings to cover future education expenses (elementary, secondary, or college), such as tuition, books, and uniforms ...

  8. How to open a 529 college savings plan

    www.aol.com/finance/open-529-college-savings...

    The tax advantages that come with a 529 plan can save your family lots of money. ... as your needs change. Watch out for gift-tax consequences. ... The beneficiary receives a tax-free scholarship.

  9. SECURE 2.0 Act - Wikipedia

    en.wikipedia.org/wiki/SECURE_2.0_Act

    Allows employers to provide incentives (like payments or gift cards) to employees to join a plan; Changes coverage requirements for part-time employees [9] Allows Tax-Free Rollovers of 529s to ROTH IRAs under certain circumstances; Creates several exemptions for early withdrawals, including Withdrawals for emergencies; Withdrawals by domestic ...

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