Sentences with phrase «exempt qualified withdrawals»

The following states do not exempt qualified withdrawals from the state's own plan from the state's income tax.

Not exact matches

Investments in 529s can grow tax deferred; withdrawals are exempt from federal and state income taxes — provided you use the funds for qualified expenses.

The IRS recognizes certain «qualified distribution» exceptions, which exempt you from some early withdrawal penalties.

Withdrawals are generally exempt from this tax if the funds are used to purchase your first home or they are used for qualified educational expenses.

Check to see if they offer tax benefits — including tax - deferred earnings and qualified withdrawals that are tax exempt — that can boost your savings even more.

Contributions are not deductible, but withdrawals to cover qualified educational expenses are exempt from federal taxation.

(Certain other qualified withdrawals may be exempt from taxation, see below.)

With Mr. Tate's guidance, the Board helped champion the federal legislation that exempts earnings on qualified withdrawals from Florida Prepaid College and Florida 529 Savings Plans from federal income tax.

Withdrawals used for qualified higher education expenses are exempt from federal and Utah state income taxes.

Withdrawals are exempt from federal and Utah state income taxes when used for qualified higher education expenses such as tuition and fees; books, supplies and required equipment; and certain room - and - board costs.

Withdrawals from IRAs, including Roth IRAs, for qualified education expenses are exempt from withdrawal penalties.

Once withdrawals begin, they are tax exempt as long as the funds are used to pay for qualified higher education expenses.

Many states also exempt withdrawals from state income tax for qualified higher education expenses.