"Richard J Kinch" <kinch[at]truetex.com> wrote:
- quote -

Are contributions to the 529 tax free? That should be the
deal breaker whether I start withdrawing in a year or two,
assuming I can do it that soon without penalty.

Thanks,
Brett

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Brett <no[at]spam.net> wrote:
- quote -

http://www.irs.gov/publications/p970/index.html

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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"Brett" <no[at]spam.net> wrote:
- quote -

See IRS Pub 970 for information on all these educational
benefits.

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"Arthur Kamlet" <kamlet[at]panix.com> wrote:
- quote -

What are some examples or publication #'s of these
deductions?

Thanks,
Brett

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Brett <no[at]spam.net> wrote:

- quote -

Not too much, since no time to grow.

But why not look into the Tutition and Fees Deduction which
benefits some taxpayers who make too much for the Lifetime
Learning Credit.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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Brett writes:

- quote -

529s help you with tax-free earnings and estate planning.
You don't have enough time for the earnings to matter much,
and the estate planning isn't a factor.

You should almost certainly pay off debts before making
investments.

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I plan to start graduate school by the Fall of 2007. Before
then, I will be taking some required undergraduate courses.
My company doesn't offer any type of tuition reimbursement.
I make to much for the Lifetime Learning Credit. Will a 529
benefit me?

I'm thinking, with $10k+ contributions/year, it will help
greatly for grad school and also undergrad courses. I'll
also start withdrawals within one year.

I'll go with Vanguard and pay $10/year + .65% fee. I believe
the $10 is waived if you have a $5000+ in total investments.

I will not be taking out any new loans. I'm currently paying
3.25% on existing student loans associated with my BS degree
(my only interest bearing debt). Should any additional money
go toward existing student loans and pay them off or to the
529? Either way, I will pay regularly on existing loans but
not as much if contributing to the 529.

Thanks,
Brett

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