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Murrr4er [49]
3 years ago
9

Funds that are left over in a 529 account after all college expenses have been paid go back to whom?

History
2 answers:
const2013 [10]3 years ago
7 0
The account holder !
yaroslaw [1]3 years ago
5 0

The government would like better to take a number of the cash as a tax, but the remainder may be chosen to be transferred to a different students name, or withdrawn at a penalty to you.

Explanation:

If assets in a very<span> 529 </span>are<span> used for </span>one thing aside from<span> qualified education expenses, </span>you will have<span> to pay </span>each<span> federal </span>financial gain<span> taxes and </span>a tenth<span> penalty on the earnings. (An </span>attention-grabbing aspect<span> note is that if the beneficiary gets a full scholarship </span>to the school<span>, the penalty for taking the </span>money<span> is waived.</span>

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