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College and University Discussion
Reply to "Doing away with 529, student loans and grand to universities "
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[quote=Anonymous][quote=Anonymous]529s reduce income tax for the wealthy, therefore they will not be eliminated.[/quote] Umm 529s are not tax deductible at a federal level. States give individuals the ability to deduct or take credits for 529s on state income tax filings. The growth in 529s when paying foe college is tax free whem it pays for qualified colleges expenses so it technivally reduces potential capital gains tax and taxes on dividend and interest but those amounts. But also incentives saving for college and reducing people taking students out and thier amounts[/quote]
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