![]() ABD, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations, including investment advisory, recordkeeping and administrative services, and marketing. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.ĬollegeChoice 529 is administered by the Indiana Education Savings Authority (Authority). You also may wish to contact directly your home state’s 529 college savings plan(s), or any other 529 plan, to learn more about those plans’ features, benefits, and limitations. You should also consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. on FINRA's BrokerCheck.įor more information about the CollegeChoice 529 Direct Savings Plan ("CollegeChoice 529"), call 1.866.485.9415 or visit obtain a Disclosure Booklet, which includes investment objectives, risks, charges, expenses, and other important information read and consider it carefully before investing. See the Disclosure Booklet for more details on qualified expenses.ģ In the event you do not survive the five-year period, a pro-rated amount will revert back to your taxable estate.Īscensus Broker Dealer Services, LLC. is the distributor of the CollegeChoice 529 Direct Plan, Learn more about Ascensus Broker Dealer Services, LLC. The availability of tax or other benefits may be contingent on meeting other requirements. ![]() All other contributions will continue to be eligible for the tax credit to the extent previously allowable.Ģ Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. Please note that, effective January 1, 2010, the Indiana state income tax credit will no longer apply to rollovers from another state's qualified tuition program or to transfers from the Upromise service into a CollegeChoice 529 account. 3ġ This credit may be subject to recapture from the account owner (not the contributor) in certain circumstances, such as a rollover to another state's qualified tuition program or a non-qualified withdrawal. Reduce your personal taxable estate by making five years' worth of gifts (up to $80,000 $160,000 for married couples filing jointly) in one lump sum. Contributions qualify for the federal $16,000 annual gift exclusion. Withdrawals for qualified expenses are exempt from federal and state tax. ![]() Earnings grow tax deferred from federal and state taxes. A special Indiana tax credit. Indiana taxpayers can get a state income tax credit equal to 20% of their contributions to a CollegeChoice 529 account, up to $1,000 per year ($500 for married filing separately). ![]() What if saving for college could actually help you save on taxes? CollegeChoice 529 offers:
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