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

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   But while there’s no federal cap, many states have set their own aggregate limits on the total amount you can contribute to a single beneficiary’s 529 plan. These state-imposed caps range from ...

3. 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

4. You can now move any money left over in your 529 college ...

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   The maximum amount that can be rolled over into a Roth IRA from a 529 plan is $35,000 per beneficiary, per account. But, for 2024, the total contribution can’t exceed $7,000 per beneficiary ...

5. 529 Plan Contribution Limits - AOL

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   Unlike with 401(k) plans and other retirement savings vehicles, the IRS does not set annual contribution limits for 529 college savings plans. Instead, the states that sponsor individual 529 plans ...

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

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   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. New bill allows unused 529 college funds to become a ...

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   Many states limit contributions on 529 plans after account balances reach a certain amount. For example, the maximum account balance in New York is $520,000 . Restrictions to new rollover option

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

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   A 529 plan is a college savings plan that provides tax advantages when used for qualifying purposes. ... Annual contribution limits vary, ranging from $235,000 in Georgia and Mississippi to ...

9. 5 retirement savings changes coming in 2024 - AOL

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   The Secure 2.0 Act will allow 529 college savings plan owners to use some unused funds for the beneficiary’s retirement beginning in 2024, but there are several important rules.