|
gptkbp:instanceOf
|
gptkb:tax-advantaged_savings_plan
|
|
gptkbp:benefit
|
gptkb:student
tax-free growth
tax-free withdrawals for qualified expenses
|
|
gptkbp:contribution
|
may be tax-deductible at state level
not tax-deductible federally
|
|
gptkbp:establishedBy
|
gptkb:Section_529_of_the_Internal_Revenue_Code
|
|
gptkbp:financialAidImpact
|
considered parental asset
|
|
gptkbp:introducedIn
|
1996
|
|
gptkbp:maximumContributionLimit
|
varies by state
|
|
gptkbp:offeredBy
|
gptkb:U.S._states
educational institutions
state agencies
|
|
gptkbp:owner
|
account holder
|
|
gptkbp:qualifiedExpensesInclude
|
gptkb:industrial_equipment
books
tuition
fees
supplies
room and board
K-12 tuition (up to $10,000/year)
|
|
gptkbp:regulates
|
gptkb:IRS
|
|
gptkbp:transferredTo
|
to another family member
|
|
gptkbp:type
|
gptkb:education_savings_plan
prepaid tuition plan
|
|
gptkbp:usedFor
|
education savings
|
|
gptkbp:website
|
https://www.irs.gov/credits-deductions/individuals/529-plans
|
|
gptkbp:withdrawn
|
subject to taxes and penalties for non-qualified expenses
tax-free for qualified expenses
|
|
gptkbp:bfsParent
|
gptkb:529_plans_(expanded_to_K-12_education)
gptkb:MPACT
gptkb:529_college_savings_plans
gptkb:Virginia_529_College_Savings_250
|
|
gptkbp:bfsLayer
|
8
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
529 plan
|