![]() 529 plan to another beneficiary who will use the funds for qualified education. In 2017, K12 public, private, and religious school tuition costs were included as qualified expenses for 529 plans along with post-secondary education costs. All Plan assets are held in trust with the New Hampshire State Treasurer serving as Trustee pursuant to RSA 195-H:4,IV. will report their 2016 income information, rather than their 2017 income. 1 So what items qualify Expenses that Qualify. ![]() ![]() The primary difference between the two Plans is that the Fidelity Advisor 529 Plan is marketed to the clients of non-Fidelity financial advisors that do not administer their own proprietary plan, while the UNIQUE Plan is offered directly to Fidelity retail investors. However, expenses must be ‘qualified’ (aka deemed necessary) to the enrollment of the student at an eligible education institution to receive these tax benefits. The Tuition and Fees Deduction expired at the end of 2016 but was renewed for the 2017 tax year with the Bipartisan Budget Act of 2018. The State of New Hampshire offers two 529 College Savings Plans, the UNIQUE College Investing Plan and the Fidelity Advisor 529 Plan, which are contractually administered, by Fidelity Investments with fiduciary oversight provided by the College Tuition Savings Plan Advisory Commission. The Tuition and Fees Deduction allows eligible taxpayers to deduct up to 4,000 from taxable income to help cover higher education costs for themselves, a spouse and dependent children. These plans are established in Section 529 of the Internal Revenue Code and require state sponsorship in order for participants to be eligible for federal income tax benefits. 529 Plans are offered by individual states, but you are not required to be a resident of a particular state to invest in that state's plan.
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