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Reply to "Which 529 plan do you have your kids in? How much do you contribute per year?"
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[quote=Anonymous][quote=Anonymous]Why are grandparents setting up separate accounts? They don't get a tax deduction. Why aren't they contributing to the account you have already set up? Is it a trust issue? (ie, they think you might withdraw the money and have a great weekend in vegas?) I thought that most 529 plans allowed for 3rd party contributions, from grandparents and such? http://www.savingforcollege.com/grandparents/answer.php?grandparent_faq_id=6 [/quote] if they are the owner, they DO get the tax break. am trying to sway my in laws to this, in lieu of 34 lego sets a year! http://m.kiplinger.com/article/taxes/T002-C001-S003-tax-breaks-generous-grandparents-529-plans.html[/quote]
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