IRS Code Sec 529 Plans Can Shrink Your Education Savings

IRS Code Sec 529 Plans Can Shrink Your Education Savings

Since many of you currently own or are planning to purchase an IRS Code Sec 529 plan, here are some important ownership, tax, distribution, ownership and investment issues which you need to be aware of: 1. Tax Issues Parents with sizable balances in their 529 Plans often make the serious mistake of paying the full amount of their qualified education expenses out of it. This could cause you to lose valuable tax deductions and/or tax credits. To qualify for the…

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