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Which statement about qualified tuition programs (529 plans) is TRUE? Taxpayers may contribute on behalf of a nondependent. Contributions are limited to $2,000 per student
Which statement about qualified tuition programs (529 plans) is TRUE? |
Taxpayers may contribute on behalf of a nondependent. | |||||
Contributions are limited to $2,000 per student per year. | |||||
Contributions are deductible for federal income tax purposes. | |||||
Earnings grow tax-deferred but are always taxed at distribution.
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