529 that shelters from state and local tax?

[Anonymous]

a lawyer told me there was one 529 in the area that shelters from state and local tax.
true? which one ?
thanks,

[Anonymous]

529 distributions that are used for college expenses are tax-free in VA, DC and MD. Where do you live?

[Anonymous]

good catch. DC

[Anonymous]

OP here: woops, I meant shelters from state (DC) and federal tax

[Anonymous]

Anonymous wrote:OP here: woops, I meant shelters from state (DC) and federal tax

nope

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here: woops, I meant shelters from state (DC) and federal tax

nope

thanks, I didn't think so

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: woops, I meant shelters from state (DC) and federal tax

nope

thanks, I didn't think so

ALL distributions from 529 plans are exempt from federal tax if you use them for college expenses and now, thanks to the tax bill, for up to $10,000 of K-12 private school expenses. That's why 529s are so attractive and popular.

[Anonymous]

Can you clarify your question? Are you asking whether contributions are tax deductible at the state and federal
Level, or whether interest is not taxed?

You will not be able to write off contributions from your federal taxes. DC residents can deduct I think $4k a year in contributions for their children ito the DC plan. You never have to pay state or federal taxes on earnings.