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Financial Planning / Tax Strategies


Subject:  Re: 529 withdrawals Date:  6/7/2009  6:00 AM
Author:  TMFPMarti Number:  106226 of 123001

It's weird, but on the Federal return any taxable distributions go to the beneficiary, not the donor. Make sure that the income goes on the right state return.

The beneficiary is too young to hold a job so has no income and no tax returns to file at all. The only tax returns would be my federal and state ones.

Like I said, it's weird. At the Federal level the only possible tax ef