A. Generally, anyone can be named the beneficiary of a 529 account regardless of . .. Q. Are withdrawals from a 529 plan exempt from state income tax? . to determine the specific state tax rules that apply to investing in a 529 plan. .

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Under the federal rules governing 529 plans, you can change the way your .

If you are taking a withdrawal to pay for qualified higher education expenses of . .. Yes, though transferring UGMA/UTMA assets into a 529 plan account may .

However, because these funds belong to the minor under a custodial arrangement, any withdrawals from the UTMA/529 account must be for the benefit of that .

Amounts contributed to a designated beneficiary's 529 account are treated as . Some states' 529 plan rules allow taxpayers to receive a tax deduction for .

Pay particular attention to rules regarding transfers, early withdrawals, .

Overview of the withdrawal rules for a Section 529 Prepaid Tuition plan, . Coverdell Account (ESA) - Withdrawal Rules and Treatment of Unused Funds fo. .

Dec 3, 2010 . However, there are a lot of rules associated with 529 plans. . don't get around to making the withdrawal from the 529 account until a week .

529 Plan Withdrawal Rules. The college 529 savings plan is a type of savings account used to save money for your child's college education expenses.

A non-qualified withdrawal is any withdrawal that does not meet the . Can I take a distribution from both a MESP 529 Plan account and Coverdell Educations .

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The applicable federal, state, and local tax rules are complex, . a rollover out to another state's 529 plan is made or a withdrawal from an Account is .

In certain circumstances where a 529 account has experienced investment losses over the term of its existence, the contributor to the account may withdraw .

Mar 30, 2005 . If you simply contributed to a 529 plan, and made no withdrawals during the year , . If you withdrew funds from your 529 account during the year, . . You need to understand the rules in your state or rely on a tax .

Make sure you are looking at the rules for 529 accounts -(I think they call . on the 529 withdrawal if you want to use the same expense for a tax credit. .

Mar 5, 2003 . If you withdraw the money for any reason other than to pay for . for more information about the tax rules and penalties. For our newest study of 529 accounts, including a list of our favorite plans, see Best 529 Plans. .

Withdrawal Rules for Different College Accounts - Section 529 Plans Section 529 Plan Rules. By Ken Clark, About.com Guide Some states' 529 plan rules allow .

Section 529 Prepaid Tuition Plans - Withdrawal Rules and Treatment of Unuse. Coverdell Account (ESA) - Withdrawal Rules and Treatment of Unused Funds fo. .

To qualify as a 529 plan under federal rules, a state program must not . . As account owner, you can decide when to withdraw funds from your 529 plan and .

As account owner, you can decide when to withdraw funds from your 529 plan and how much to take out – and there are ways to time your withdrawals for .

Withdrawal procedures are another important aspect of the 529 Plan Rules. Anyone who invests in the 529 plan should be aware that if the rules for the .

The earnings portion of non-qualified withdrawals is taxed as ordinary income . . The assets in a section 529 plan are not considered part of the account .

Jan 16, 2007 . If you withdraw funds from your 529 account that a scholarship allowed you . a comment is abusive or otherwise violates our Fool's Rules, .

Withdraw funds for noneducational purposes according to your particular 529 account. Unless the beneficiary has died or no longer needs the money due to .

Apr 18, 2008 . Well there are quite specific tax rules for 529 account .

Apr 15, 2010 . Federal tax-free withdrawals – If the money is used for college, your withdrawals . Check your states rules on 529 College Savings Plans. .

Mar 23, 2011 . To qualify as a 529 plan under federal rules, a state program must . . As account owner, you can decide when to withdraw funds from your .

This article answers questions about withdrawing college savings for non .

May 8, 2006 . Rules for money leftover from college 529 plan . No one will be forcing you to withdraw your 529 account upon your child's graduation from .

Jan 17, 2009 . When withdrawing money from a 529 college savings account to cover 2009 expenses , you shouldn't delay such withdrawals beyond 2009.

Are there any age requirements for the account owner or beneficiary? . . Where can 529 college savings plan withdrawals be used? Withdrawals from 529 .

www.americanfunds.com/college/college-america/managing-account.htm www. americanfunds.com. 2011-03-05 04:22:16. 7 - 3, 529 plan withdrawal rules .

Aug 6, 2007 . However, if you withdraw money from a 529 plan and do not use it on an eligible college expense, you generally will be subject to income tax .

-Establishing a College Savings Account -Rules, Rules, Rules . . Some states also impose a penalty tax on withdrawals from the 529 Plan account within a .

In 2002, however, the re-named Coverdell education savings account became a very attractive . In fact, even if you like the 529 plan you may still decide to contribute the first . This means that some portion of the ESA withdrawal can become taxable. . Income, estate, and gift tax rules · Changes to the ESA .

Withdrawals used to pay for qualified higher education expenses are exempt from federal . A 529 plan is considered an asset of the account owner, not the beneficiary. . What are the 529 College Savings Plan Distribution Rules? .

Oct 1, 2005 . If you withdraw money from either type of 529 plan, and that . Each plan has different rules and offers unique investments and pricing. .

Results 1 - 10 of 2940000 . Withdrawal Rules for Different College Accounts - Section 529 Plans Section 529 Plan Rules. By Ken Clark, About.com Guide .

Some of the other rules that apply to contributions include: . Plan Withdrawals - 529 plans have no age limit on account beneficiaries. .

IRA Tax Implications. What are the IRS regulations for IRA withdrawals? . . Special accelerated gifting rules apply to 529 College Savings Plan accounts. . Transfers from UGMA/UTMA accounts into UGMA/UTMA 529 Plan accounts are not .

Q. What happens to the balance in a 529 plan after all qualified education . subject to the program rules and to the transfer tax rules of Section 529. . Q . Because withdrawals from a 529 savings account must be for qualified higher .

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Overview of the withdrawal rules for a UGMA or UTMA custodial account, . Unlike Section 529 plans and Coverdell ESA's, there's no ability to transfer the .

But once you've entered the "withdrawal phase," be sure you make the right decisions when tapping your 529 account. Here are the mistakes you'll want to .

Jan 14, 2010 . For a general discussion of gift tax rules, see IRS Publication 950, . Q. Each 529 plan account has one designated beneficiary. . But the benefit of a 529 plan comes with the tax-free withdrawal of earnings that .

The rules governing the withdrawals of the 529 plan hold that an individual . An added advantage is the fact that the fund in the 529 plan account grows .

Qualified tuition programs (QTPs) are also called “529 plans.” . .. His unrecovered basis in that account before the distribution was $3000. .

Jan 10, 2009 . Tagged as: 529 distribution rules, 529 distributions, 529 non-qualified distributions, 529 Plan, 529 qualified distributions, Best 529, .

Assume there is no further appreciation in the account and you withdraw $5000 in the . And we are only talking about the federal financial aid rules here .

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