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529 plans can be a great way to save for education expenses on a tax-free basis. ... Room and board, not to exceed the amount listed by the school as part of the cost of attendance.
A 529 plan is a tax-advantaged way for parents to save for their children’s education expenses. ... fees, room and board, and books at qualified educational institutions. Originally designed for ...
If grandma is paying for tuition, the couple could still use the 529 plans to pay for books, computer equipment and room and board. Or, they could leave the money in the 529 plans for grad school ...
Section 529 advanced to the Clinton administration's agenda and became part of Taxpayer Relief Act of 1997 (TRA). The TRA made changes such as deduction on student loans, penalty-free IRA withdrawals for higher education, and adding room and board to the list of qualifying expenses. [citation needed]
Unlike a traditional 529 college savings plan, a prepaid tuition plan doesn’t allow you to use your funds to pay for things like room and board, books, supplies, equipment and special needs ...
A Coverdell education savings account (also known as an education savings account, a Coverdell ESA, a Coverdell account, or just an ESA, and formerly known as an education individual retirement account), is a tax advantaged investment account in the U.S. designed to encourage savings to cover future education expenses (elementary, secondary, or college), such as tuition, books, and uniforms ...
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