- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Are the fees charged by the 529 plan manager, deductable for income taxes??
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Are the fees charged by the 529 plan manager, deductable for income taxes??
No, since the fees are pay with tax deferred funds.
However, if you are billed for and paid the fees outside of the 529 plan, it is deductible as an investment expense, subject to being a misc. itemized deduction, and subject to the 2% of AGI rule.
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Are the fees charged by the 529 plan manager, deductable for income taxes??
No, since the fees are pay with tax deferred funds.
However, if you are billed for and paid the fees outside of the 529 plan, it is deductible as an investment expense, subject to being a misc. itemized deduction, and subject to the 2% of AGI rule.
Still have questions?
Make a post
Or browse the Forums