Which of the Following Is Accurate Concerning 529 College Savings

question 126

Multiple Choice

Which of the following is accurate concerning 529 college savings plans?

• A) Contributions are tax deductible for both state and federal income taxes.
• B) Earnings are tax-free when used for qualifying educational expenses.
• C) They have no impact on qualifying for financial aid.
• D) There is no limit on how much can be contributed.
• E) All of the above.

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Definitions:

Attributes

Characteristics or qualities that describe an object, person, or phenomenon.

African American Women

Women who are of African descent living in America, recognized as a distinct group in studies related to culture, health, and socio-economic status.

Never-married Parents

Individuals who have children but have never been legally married to another individual at any point.

Marry

The legally or formally recognized union of two people as partners in a personal relationship.