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Which statement is TRUE about federal taxation of contributions to 529 plans? A. Contributions are tax deductible to the donor B. Contribution amounts above the
Which statement is TRUE about federal taxation of contributions to 529 plans?
A. Contributions are tax deductible to the donor
B. Contribution amounts above the gift tax exclusion amount are taxable to the recipient
C. Contribution amounts above the gift tax exclusion amount are taxable to the donor
D. The full contribution is taxable to the donor
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