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Like most US states Maryland has two different 529 options. The prepaid college trust The College investment plan Instead I would like to sock away money on an ad-hoc basis as I can afford it. The Prepaid College Trust is designed to pay for semester chunks. The College Investment Plan doesn't require a large lump sum, or large monthly payments. The ...


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From my reading of the Utah 529 Plan - My529.org I don't think you can consolidate your children's 529 into a single account. Normally each account has to have only one beneficiary (child). As qualified educational distributions will need to have the appropriate beneficiary tax id. Trying to change beneficiaries is actual paperwork submitted to the plan. ...


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The first thing to consider is state income taxes. Some (many/most) states give a state income tax break for contributions to their 529 plan. Some states allow the deduction even if the 529 plan is run by another state or even a non-state plan. PA is one of the states that only give a tax break for contributing to the state plan: Why Choose a Pennsylvania ...


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Morrison Changs's answer is very good I would like to add a few additional points. You have 4 children 6 and under. One main benefit of many 529 plans is that they have an age based plan where the investments become more conservative. In fact the Utah age based plans let you pick from 4 different age based plans (Aggressive Global, Aggressive Domestic, ...


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What is your debt level like? Given some statements you made, you might be better off attempting to free up cash flow (reduce expenses such as consumer debt) so you can cash flow college. If your children go the community college to university route it will cost you about a car payment per month. Many households have two car payments, one for mom and ...


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I'll mostly repeat my revised detail from the other answer thread. The 2019 version of the IRS Publication 970 seems to be fairly clear that you have to take the distribution from a Qualified Tuition Program (e.g. a 529 account) in the same year as the QHEE. I base this on the following three citations from that document, in addition to being unable to ...


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