But 529 plan contributions are subject to the federal gift tax exclusion, meaning you will need to report gift taxes if you contribute more than the 2025 amounts to a 529: Single filers up to $19,000.

But 529 plan contributions are subject to the federal gift tax exclusion, meaning you will need to report gift taxes if you contribute more than the 2025 amounts to a 529: Single filers up to $19,000.

While technically you can tap your 529 plan for whatever amount you want, only withdrawals made for 'qualified education expenses' will avoid taxes. These expenses include costs such as "tuition, fees ...

If you don’t need the money right away, keeping your money in the 529 plan until the market recovers and you can recoup your losses is a good option, says Autumn Knutson, founder of Tulsa, ...

Once viewed narrowly as college savings tools, 529 plans have significantly evolved through a series of legislative changes. They are now among the most flexible and tax-efficient financial tools ...

Vermont taxpayers with an in-state 529 plan can receive the $500 upper limit in tax credit with a $5,000 contribution. The Best 529 Plans for 2025 Morningstar rates these plans as the top choices ...

529 plan for kids: College, public and private school . Currently, federal law allows tax-advantaged accounts such as Coverdell Education Savings Accounts (ESAs) or 529 Savings plans to help pay ...

A 529 plan is a tax-advantaged savings account dedicated specifically to saving for future education expenses. It's not just for college — these accounts can also be used to pay for trade ...

College-savings accounts currently hold about $500 billion, and savers may soon be able to use these funds for much more than ...

Now thanks to the SECURE 2.0 Act, it's possible to roll up to $35,000 of unused 529 plan funds into a Roth IRA without incurring taxes or a penalty. So that is one way to deal with an overage.

Lt. Gov. Winsome Earle-Sears, a Republican candidate for governor in Virginia, says conservatives in Congress should follow Virginia's lead on tax relief for working families.