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There's a special rule that allows five years' worth of 529 contributions to be made at once ($95,000 in 2025) while avoiding gift tax implications, as long as no other contributions are made in ...
Image source: Getty Images. As of 2025, the contribution limits to 529 college savings plans range from a low of $235,000 to a high of $575,000. And here are the states with the highest ...
For example, a 529 plan in which $2,000 is deposited each year for 18 years would accumulate over $4,000 in fees with a 1.1% expense ratio but only $1,400 in fees with a 0.4% expense ratio – a savings of $2,600. Generally, direct-sold 529 plans have lower fees than advisor-sold 529 plans. [27]
A 529 plan is a tax-advantaged way for parents to save for their children’s education expenses. The IRS doesn’t impose a contribution limit on 529 plans, unlike for other tax-advantaged ...
State. Tax Treatment of 529 Plan Contributions. California. No deduction or credit. Illinois. Maximum deduction of $10,000 ($20,000 for married joint filers) per year
Unlike with 401(k) plans and other retirement savings vehicles, the IRS does not set annual contribution limits for 529 college savings plans. Instead, the states that sponsor individual 529 plans ...
Some states offer deductions for 529 plan contributions up to certain limits. 529 plan contributions and qualified withdrawals are tax-free. ... more than $19,000 each year to a 529 plan. However ...
Opening a 529 plan is a tax-advantaged way to set aside money for college. The money you contribute can grow tax-deferred and qualified withdrawals are tax-free. While there is no federal tax ...