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Reply to "Tax Advantaged things grandparents can do for grandchildren"
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[quote=Anonymous][quote=Anonymous]So much misinformation in this thread. Payments made to schools are not gifts — but daycare and summer camp are not schools. Yes you can advance fund a 529 with 5 years contributions but then you cannot give further gifts to that person for 5 years without filing a gift tax return. Really though if your parents are well off and looking to help you don’t need to worry about any of this. If your parents are paying for college it doesn’t really matter if they cash flow it or use a 529. [/quote] If it's in a 529 it's safe from estate taxes should OP's parents die before her child goes to college.[/quote]
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