529 tax law change

brewer12345 · 08-16-2006, 07:12 AM

There is currently an article floating around at bankrate.com talking about some of the extraneous tax law changes buried in the 900+ page pension reform bill. No doubt there is more there than they have dug up just yet, but they point out that this law made the tax-free withdrawal of 529 money permanent. Now the gummint giveth and the gummint taketh away, but this change makes me a lot more comfy with the idea of 529 plans for college savngs.

gindie · 08-16-2006, 07:19 AM

You are correct.* I first saw this at Joe's blog at www.savingforcollege.com.

However, the same permanency of improved benefits was not granted to Coverdell accounts.

FinanceDude · 08-21-2006, 03:38 PM

Sweet!! It's about time the govt did something good...........

08-16-2006, 07:12 AM	#1
brewer12345 Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Mar 2003 Posts: 9,226	529 tax law change There is currently an article floating around at bankrate.com talking about some of the extraneous tax law changes buried in the 900+ page pension reform bill. No doubt there is more there than they have dug up just yet, but they point out that this law made the tax-free withdrawal of 529 money permanent. Now the gummint giveth and the gummint taketh away, but this change makes me a lot more comfy with the idea of 529 plans for college savngs. __________________ “When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid

08-16-2006, 07:19 AM	#2
gindie Recycles dryer sheets Join Date: Jul 2004 Posts: 253	Re: 529 tax law change You are correct.* I first saw this at Joe's blog at www.savingforcollege.com. However, the same permanency of improved benefits was not granted to Coverdell accounts.

08-21-2006, 03:38 PM	#3
FinanceDude Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Aug 2006 Posts: 7,351	Re: 529 tax law change Sweet!! It's about time the govt did something good........... __________________ Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:) President Obama, please know that I will continue to cling to my guns and religion........:)

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