Fortunately, 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 ...

“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 ...

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 ...