From how to open a 529 college savings plan to how to change the beneficiary, we answered all of your questions. These were the most popular articles on 529 college savings plans this year.
Here are four steps to help you navigate the 529 plan withdrawal process and avoid paying taxes and penalties on your savings.
Form 1099-Q and Form 1098-T will list the amount of the 529 plan distribution and how much was used to pay for college tuition and fees, but it is up to the 529 plan account owner to calculate the taxable portion.
This step-by-step guide to opening a 529 college savings plan makes the process easier for parents and grandparents to save for college.
The 5-cap ratings, updated quarterly, help consumers consider their college savings options and choose the best 529 plans. We are pleased to share the top rated plans from our latest quarterly analysis.
A 529 plan account owner may change the beneficiary
at any time without tax consequences when the new beneficiary is a family member of the current beneficiary.
529 plans are designed to help save for the future education costs of a single beneficiary. However, the 529 plan account owner may change the beneficiary to a qualifying family member
of the current beneficiary at any time without tax consequences by completing a form on the 529 plan’s website.
Parents with more than one child should consider having a separate 529 plan for each sibling. This has an impact on investment strategy, state income-tax benefits and tax-free distributions.
529 plans aren’t just for children. Adults returning to college can use a 529 plan to pay for continuing education, undergraduate courses or graduate courses offered at an eligible college or university.