The White House retreat this week on eliminating the tax exemption for withdrawals from 529 savings plans is good news for families putting away money for college as its elimination would have ended this great tax break used since 1996 to help families save for college.
Category: 529 Plans
Tax free college savings plans called 529 Plans can be used to purchase computer equipment and services for an eligible student in 2009 and 2010. This change was included in the “Stimulus” bill enacted this year. Check with your plan for more details and requirements.