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If an employer makes a contribution to a 529 account set up by an employee for the employee's child, is the contribution taxable to the employee (529 account owner) or the child (529 beneficiary)? Or is it a gift from the company to the employee's child?

If taxable to the child (doubtful), is this a good way to shift income to a lower tax bracket?

If a gift, does the 529 rule re aggregating five years of gift tax exemptions (allowing a $50K contribution) apply to the employer, allowing it to make up to a $50K contribution at any one time (so long as it doesn't exceed $50K during a five year period)? If so, wouldn't a good strategy be to ask an employer to fund an existing 529 plan rather than pay a discretionary bonus next year?

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