Nissan 370Z Forum - View Single Post - The New "What did you do with your Z today" (with off topic replies) XVIV

jpkirk · 09-06-2015, 02:39 PM

So I bet you would not be surprised if I told you my wife Louise handles all that huh?

As I understand it earnings, as long as used for appropriate stuff for education are not taxed. Here is a quote from the IRS ...

A. Earnings are not subject to federal tax and generally not subject to state tax when used for the qualified education expenses of the designated beneficiary, such as tuition, fees, books, as well as room and board. Contributions to a 529 plan, however, are not deductible.

Here is the IRS Q&A site for 529's

IRS 529 Q&A

09-06-2015, 02:39 PM	#9351 (permalink)
jpkirk A True Z Fanatic Join Date: Jun 2012 Location: Merry Land Posts: 5,515 Drives: '14 MidBlu ST MT Rep Power: 3376	So I bet you would not be surprised if I told you my wife Louise handles all that huh? As I understand it earnings, as long as used for appropriate stuff for education are not taxed. Here is a quote from the IRS ... A. Earnings are not subject to federal tax and generally not subject to state tax when used for the qualified education expenses of the designated beneficiary, such as tuition, fees, books, as well as room and board. Contributions to a 529 plan, however, are not deductible. Here is the IRS Q&A site for 529's IRS 529 Q&A __________________ intake \| exhaust \| wheels \| tires \| suspension ... um ... stock, do speed stickers count? intake \| exhaust \| TE37 SL \| RE-11 \| suspension ... um ... do speed stickers count? Signature under construction