529 can be used for room and board, tuition and computers which do count against the exemption, so you still have some room there. You also have to be alive when the grandchild attends college to take advantage of the direct method, which depending upon the age spread and health of the grandparent may be unlikely. A waste for some but not all.A waste. You should write tuition checks directly. Doesn't count against your lifetime exemption.towards their college accounts. Even this those accounts are fully funded, new provisions allow the excess to flow back to the child in a Roth. It's a great, tax-free opportunity to start a nest egg for them.
Statistics: Posted by lazynovice — Fri Sep 27, 2024 6:47 pm — Replies 8 — Views 466