Monday, December 2, 2013

529 Plan - Saving for College

A 529 plan (Qualified Tuition Program [QTP]) is an investment designed to help families pay for future expenses associated with college or other qualified post-secondary training.
Types of 529 PlansThere are two basic types: prepaid tuition plans and savings plans.
Information about 529 PlansPlan 529 information is available at:
Benefits of a 529 PlanEarnings accumulate tax-free while in the account and no tax is due on distributions that pay for higher education expenses.
Taxes and 529 PlansContributions to a 529 plan are not tax deductible on federal tax returns.
Contact the Internal Revenue Service (IRS)For more information, contact the Internal Revenue Service by phone at:
Phone: 1-800-829-1040
TTY: 1-800-829-4059
International IRS Offices (if you live outside the U.S.)
Need More information? Try These Additional Resources:


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