Contribution Limit For 529 2024. According to the irs, a 529 program must have “adequate safeguards” to prevent contributions beyond what is needed to pay for a benefactor’s education costs. Although these may seem like high caps, the limits apply to every type of 529.
Each state sets a maximum 529 plan contribution limit per beneficiary. Individuals may contribute as much as $90,000 to a 529 plan in 2024 ($85,000 in 2023) if they treat the contribution as if it were.
Although These May Seem Like High Caps, The Limits Apply To Every Type Of 529.
Contribution limits for 529 plans range from around $235,000 on the low end to more than $550,000 per beneficiary.
You Can Contribute As Much Money As You Want, But There Are Tax.
According to the irs, a 529 program must have “adequate safeguards” to prevent contributions beyond what is needed to pay for a benefactor’s education costs.
Contribution Limit For 529 2024 Images References :
Although These May Seem Like High Caps, The Limits Apply To Every Type Of 529.
529 plans do not have annual contribution limits.
Unlike Retirement Accounts, The Irs Does Not Impose Annual Contribution Limits On 529 Plans.
In 2024, you can contribute up to $18,000 per beneficiary per year before you’d need to file irs form 709.