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Here are the aggregate 529 plan contribution limits for each state, listed alphabetically: ... Ohio. $541,000. Oklahoma. $450,000. Oregon. ... It's also important to mention that these limits are ...
Here’s what you need to know about 529 plan contribution limits. ... In 2025, you can contribute up to $19,000 per beneficiary per year before you need to file IRS Form 709.
Here’s a look at how a several states treat 529 plan contributions. State. Tax Treatment of 529 Plan Contributions. ... per year. Ohio-Maximum deduction of $4,000 per beneficiary per year
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
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 ...
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 ...
Aggregate limits: Every state sets a limit on the total amount you can contribute to 529 plans over a lifetime. The limit applies to each beneficiary and ranges from around $235,000 to $590,000.
Annual contribution limits vary, ranging from $235,000 in Georgia and Mississippi to $575,000 in Arizona. ... in 2018 to allow 529 owners to use up to $10,000 per year to pay for tuition at K-12 ...
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