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2. 529 plan vs. Roth IRA: Here’s how families can use ... - AOL

   www.aol.com/finance/529-plan-vs-roth-ira...

   While the maximum contribution in each state’s plan may differ, any contributions over the maximum gift tax exclusion – $18,000 for 2024 – could make you liable for gift taxes. In contrast ...

3. How to open a 529 college savings plan

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   The information you will need to open a 529 account may vary by plan. In general, though, expect to be asked for details such as Social Security number (or tax ID), date of birth, and address. You ...

4. 529 plan - Wikipedia

   en.wikipedia.org/wiki/529_plan

   Paying college expenses directly from a 529 account may reduce eligibility for the American Opportunity Tax Credit, due to IRS coordination restrictions. To claim the full credit (in addition to meeting other criteria, such as income limits), $4,000 of college tuition and textbook expenses per year should be paid from non-529 plan funds.

5. How My 529 College Savings Plan Worked For Me

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   “Beyond this, starting Jan. 1, 2024, up to $35,000 in unused 529 funds can be rolled over to a Roth IRA for the 529 plan beneficiary subject to annual Roth IRA contribution limits and other ...

6. 529 plan contribution limits for 2024: What college savers ...

   www.aol.com/finance/529-plan-contribution-limits...

   Finally, starting in 2024, families can roll unused 529 plan funds to a Roth IRA in the beneficiary’s name without triggering income taxes or penalties.This new rule, signed into law as part of ...

7. 4 Things You Must Know Before Rolling Over Your 529 College ...

   www.aol.com/finance/4-things-must-know-rolling...

   So, if you roll over $7,000 per year until the $35,000 lifetime cap is reached, the beneficiary would need to earn at least $7,000 in each of those tax years. The 529 plan must have been open for ...