College Funds (529 Plan)

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Asked by Dennis
Answered by Kim Miller PRO+
CFP® in Redmond, WA
Interesting question, however, the use of 529 plan assets - tax-free - are narrowly defined and financing costs are not one of them. For example, you cannot use 529 p...
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Asked by Martha
Answered by Winnie Sun PRO+
Financial Adviser in Irvine, CA
Hi Martha, Thanks for the question. In order to utilize 529 funds for higher education purposes, the IRS does want to make sure that you are attending school at least...
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Asked by Mary
Answered by Kim Miller PRO+
CFP® in Redmond, WA
Hi - The annual gift tax exclusion allows you to give $14,000 per year to any one person without filing a gift tax return. A married couple who "join" in the gift ca...
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Asked by Edna
Answered by Kim Miller PRO+
CFP® in Redmond, WA
Hi - 1) He can use the funds for graduate school or 2) you can transfer the account to another family member - including yourself - for college. Lastly, you can ca...
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