Question
Which best describes the basics of a 529 plan? Tax-exempt savings plan (sometimes operated by a state) that encourages saving for future education expenses of
Which best describes the basics of a 529 plan?
Tax-exempt savings plan (sometimes operated by a state) that encourages saving for future education expenses of a dependent. States may offer income tax deductions or credits for contributions to the plan.
Tax-advantaged investment fund (sometimes operated by a state) that encourages saving for future education expenses of a designated beneficiary. States may offer income tax deductions or credits for contributions to the plan.
Tax-advantaged account for certain people who become disabled before age 26, designed to enable them (and their families) to save and pay for disability-related expenses.
A student loan, backed by collateral, guaranteed by the state of residency of the plan participant or beneficiary. States may offer income tax deductions or credits for expenditures from the plan.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Energy Audit Of Building Systems An Engineering Approach
Authors: Moncef Krarti
3rd Edition
0367820463, 978-0367820466
