We have a U-fund account for our daughters that had a loss in 2016, over $1000.00. Are there any deductions or credits fir thst?

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We have a U-fund account for our daughters that had a loss in 2016, over $1000.00. Are there any deductions or credits fir thst?

No, there is no deduction or credit for the decrease in the account balance of a U. Fund 529 College Savings Plan. It is a tax deferred account so you do not pay tax on qualified withdrawals, nor can you deduct losses (whether realized or unrealized).

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We have a U-fund account for our daughters that had a loss in 2016, over $1000.00. Are there any deductions or credits fir thst?

No, there is no deduction or credit for the decrease in the account balance of a U. Fund 529 College Savings Plan. It is a tax deferred account so you do not pay tax on qualified withdrawals, nor can you deduct losses (whether realized or unrealized).

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