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Education
You can rollover your son's 529 plan to a new 520 plan with you as beneficiary. This rollover isn't taxable as it is a rollover for the benefit of a beneficiary's family member.
See this IRS document on page 53.
You can then use your 529 plan to pay your student loans up to a lifetime limit of $10,000 without having to pay taxes.
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March 20, 2024
7:43 AM