While the federal government places no caps on contributions to a 529 plan, it can deter contributions by imposing taxes and a penalty. In 2024, if your contribution as an individual exceeds $18,000 ...
Discover the most compelling options for tax-advantaged savings plans. The cost of education continues to rise, underscoring the importance for families to save early and frequently with a 529 plan.
There are no state residency requirements, but Illinois residents get tax deductions. You don't need to reach any minimums. With the CollegeAdvantage (Ohio) 529 plan, anyone can sign up.