Hello All,
Not sure if this is possible... would a child be able to gift their parents money and then the parents use that money to contribute to the child's 529 account in a state that offers tax deductions for 529 contributions? Essentially, the child would be contributing to their own college savings and the parents would be able to save some state tax.
Thanks!
Not sure if this is possible... would a child be able to gift their parents money and then the parents use that money to contribute to the child's 529 account in a state that offers tax deductions for 529 contributions? Essentially, the child would be contributing to their own college savings and the parents would be able to save some state tax.
Thanks!
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