Statements (32)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
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
|
| https://www.w3.org/2000/01/rdf-schema#label |
529 plan
|
| gptkbp:introducedIn |
1996
|
| gptkbp:maximumContributionLimit |
varies by state
|
| gptkbp:offeredBy |
gptkb:U.S._states
educational institutions state agencies |
| gptkbp:owner |
account holder
|
| gptkbp:qualifiedExpensesInclude |
books
industrial equipment 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 |
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| gptkbp:withdrawn |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)
|
| gptkbp:bfsLayer |
6
|