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:

Crosscutting Dike

A geological feature where a body of igneous rock cuts across the structure of adjacent rocks, indicating it is younger.

Paleozoic

An era of geological time from about 541 to 252 million years ago, marked by the development of abundant marine life and the first appearance of life on land.

Geologic Timescale

A system of chronological dating that relates geological strata to time, used by geologists and paleontologists to describe the timing and relationships of events in Earth's history.

Mesozoic Era

A geologic era that occurred about 252 to 66 million years ago, characterized by the dominance of dinosaurs and the appearance of flowering plants.