Learning Library Quick Answers Investment Planning

Do 529 withdrawals count as support when establishing the over 50% standard?


Answer: Yes, for the exemption. But, keep in mind for the kiddie tax, over 50% must be from earned income. Scenario:If college cos....

Do I need to be a resident of the state in which the 529 College Savings Plan is sponsored?


Answer: No, but you do if you want to take advantage of the State tax deduction.Each state has its own rules as to who can invest ....

How are 529 accounts treated in FAFSA applications?


Answer: If the parent/beneficiary has access to the funds, it would be treated as a parent asset. With these, the parent will prob....

How are FAFSA and Profile schools currently handling 529 plans?


Answer:If the parent or the student (including UTMA/UGMA) is the owner, then they are counted as parent assets for both the FAFSA ....

How are grandparent gifts to a 529 plan treated for estate tax purposes?


Scenario: If a grandmother wants to gift to a 529 for estate tax purposes is the gift completed when she sets up the account or is....