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2. 529 plan contribution limits for 2024: What college savers ...

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

   This avoids gift tax on $90,000 in 2024 by treating it as if it was contributed over a five-year period. Other contribution and tax considerations for 529 plans

3. Are 529 College Savings Plans Tax Deductible?

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

   The average cost of tuition and fees at four-year private colleges and universities has grown from $34,970 for the 1994-1995 school year to $58,600 for 2024-2025, according to CollegeBoard.

4. What is a 529 plan and how is it used? - AOL

   www.aol.com/finance/529-plan-used-175045824.html

   You can contribute up to $18,000, or $36,000 if filing jointly, per beneficiary to a 529 plan in 2024 without having to file a gift tax return. Other contribution rules apply, too, based on the state.

5. 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 ...

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

   www.aol.com/finance/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 ...

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

   www.aol.com/college-tuition-education-expenses...

   But this deduction was phased out in 2020, and instead there are several college credits that have expanded. ... for other deductions: 529 Plans. ... tax professional to help you navigate claiming ...

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 ... $18,000 in 2024 – then you’ll need to report the amount to the IRS. ... That doesn’t mean you’ll be hit with a gift ...

9. 529 plan vs. Roth IRA: Here’s how families can use both to ...

   www.aol.com/finance/529-plan-vs-roth-ira...

   While the maximum contribution in each state’s plan may differ, any contributions over the maximum gift tax exclusion – $18,000 for 2024 – could make you liable for gift taxes.