Hi Amy C!
Thank you so much for your response. We have additional questions about 529 contributions. If my daughter pursues further education in the graduate programs, we have two questions below:
a. Does the money contribution exceeded than $190,000 exempt us from the federal gift tax if we contribute to her 529 account after the year 2025?
b. Are there any upper limits of the amount that we or her relatives can contribute to our daughter's 529 account to avoid filling for the federal gift tax? We are currently live in California.
Again, thank you so much for your assistance and advice.
Sincerely,
