1 Any 529 plan withdrawals not used to pay qualified education expenses are subject to penalties and taxes.
4 Any excess contributions made to a 529 plan with a front-loaded gift will be returned to the account owner's estate if he or she dies within the 5-year period. See https://www.savingforcollege.com/article/how-much-can-you-contribute-to-a-529-plan
5 Under the 2017 Tax Cuts and Jobs Act bill, the first $1,100 of a child's income is tax-free, the next $1,100 is taxed at 10%, and the amount above $2,200 is taxed at the same rate as income from trusts which starts at 24% then increases to 35% for income over $9,300 and 37% for income over $12,750.
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