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Aug
10
How much can I invest in a 529 plan?
How much can I invest in a 529 plan? Answer: Section 529 of the tax code requires that a 529 account not accept more contributions than are necessary to meet the qualified education expenses of the account beneficiary. A plan will pass this test if it limits total contributions to the amount needed to fund five years of the beneficiary's tuition, fees, and room and board at the most costly college allowed under the program, and many states are including graduate school costs in the tally. Each plan can set its own limit within this guideline. When the value of a beneficiary's account reaches the limit chosen by the state, no more contributions may be made to that state's 529 plan for the beneficiary. (Some states may also impose an...
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Thomas Bucklin, Registered Principal offering securities through Cambridge Investment Research, Inc. A Broker/Dealer. Member FINRA/SIPC. Investment Advisor Representative offering advisory services through Capital Investment Advisors, Inc., a Registered Investment Advisor, Cambridge, Capital Investment Advisors, and Fortress Financial are separate and unrelated companies.

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual's personal circumstances.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.



This communication is strictly intended for individuals residing in the state(s) of AL, CO, DE, FL, IL, IA, KY, MD, MI, MN, NM, RI, SC, TN, VA and WA. No offers may be made or accepted from any resident outside the specific states referenced.
 


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