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A Penalty-Free Way to Get 529 Money BackFortunately, this penalty doesn’t apply under certain circumstances, such as when the beneficiary receives some form of tax-free educational assistance. A 529 plan is a tax-advantaged account ...
A 529 plan is a tax-advantaged way for parents ... you can contribute up to $19,000 per beneficiary per year before you need to file IRS Form 709. Since each donor can contribute up to $19,000 ...
The simplification act removed over two-thirds of the questions on the FAFSA form. Best yet, the FAFSA now lets grandparents with 529 accounts take advantage of the “grandparent loophole" to ...
“You’ll need to make sure you have these moves documented in the event of an IRS audit, so a 1099-Q will be generated if funds are distributed from a 529 plan, and the Form 5498 will be ...
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