Business, 18.04.2020 01:46, ganggang6223
All of the following statements concerning Section 529 Savings Plans are correct EXCEPT: Group of answer choices
a. Contributions are recognized on a five-year pro rata basis.
b. Earnings grow on a tax deferred basis, unless used for qualified education expenses, and then distributions are tax free.
c. The primary benefit of a 529 Savings plan is the state income tax deduction for contributions.
d. Earnings are included in gross income and a 10% penalty is assessed if distributions are not used for qualified education expenses.
Answers: 1
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All of the following statements concerning Section 529 Savings Plans are correct EXCEPT: Group of an...
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