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2. Are 529 plan contributions tax deductible? Plus other FAQs - AOL

   www.aol.com/finance/529-plan-contributions-tax...

   Some states offer deductions for 529 plan contributions up to certain limits. 529 plan contributions and qualified withdrawals are tax-free. If you pay state income taxes, you’ll need to report ...

3. Are 529 College Savings Plans Tax Deductible?

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

   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

4. 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 ...

5. 529 plan - Wikipedia

   en.wikipedia.org/wiki/529_plan

   The earnings portion of money withdrawn from a 529 plan that is not spent on eligible expenses (or rolled over into an ABLE account for any eligible family member) is subject to income tax, an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 ...

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

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

   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 ...

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. Here Are the 10 States With the Highest Aggregate ... - AOL

   www.aol.com/10-states-highest-aggregate...

   Image source: Getty Images. As of 2025, the contribution limits to 529 college savings plans range from a low of $235,000 to a high of $575,000. And here are the states with the highest ...

9. Internal Revenue Code section 212 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   Internal Revenue Code § 212 (26 U.S.C. § 212) provides a deduction, for U.S. federal income tax purposes, for expenses incurred in investment activities. Taxpayers are allowed to deduct all the ordinary and necessary expenses paid or incurred during the taxable year-- (1) for the production or collection of income;