Internal Revenue Code Section 529
GPTKB entity
Statements (43)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:United_States_federal_law
|
| gptkbp:accountOwner |
individual or entity
|
| gptkbp:administeredBy |
states
|
| gptkbp:allows |
tax-free growth of investments
tax-free withdrawals for qualified education expenses |
| gptkbp:alsoKnownAs |
gptkb:529_plan
|
| gptkbp:appliesTo |
higher education expenses
K-12 tuition (with limitations) |
| gptkbp:benefit |
gptkb:student
|
| gptkbp:codifiedIn |
26 U.S.C. § 529
|
| gptkbp:compatibleWith |
federal income tax on qualified withdrawals
|
| gptkbp:dateEnacted |
1996
|
| gptkbp:enactedBy |
gptkb:United_States_Congress
|
| gptkbp:establishes |
prepaid tuition plans
state-sponsored education savings plans |
| gptkbp:focusesOn |
qualified tuition programs
|
| https://www.w3.org/2000/01/rdf-schema#label |
Internal Revenue Code Section 529
|
| gptkbp:partOf |
gptkb:Internal_Revenue_Code
|
| gptkbp:penalty |
non-qualified withdrawals (10% penalty on earnings)
|
| gptkbp:permits |
change of beneficiary
rollover to another 529 plan use for apprenticeship programs (with limitations) use for student loan repayment (with limitations) |
| gptkbp:provides |
tax advantages for education savings
|
| gptkbp:purpose |
encourage saving for future education costs
|
| gptkbp:referencedIn |
gptkb:IRS_website
IRS Publication 970 |
| gptkbp:relatedTo |
Coverdell Education Savings Account
Internal Revenue Code Section 530 |
| gptkbp:subject |
contribution limits
estate tax rules federal financial aid considerations gift tax rules non-qualified withdrawal penalties state-specific rules and benefits |
| gptkbp:usedFor |
books
tuition fees supplies room and board (with restrictions) computers and related technology (with restrictions) |
| gptkbp:bfsParent |
gptkb:529_plans_(expanded_to_K-12_education)
|
| gptkbp:bfsLayer |
6
|