Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
529 Plan Tax Strategies for Grandparents
In this episode of The College Savings Podcast, hosts Lucas and Luna explore a topic that often gets overlooked: the tax implications when grandparents contribute to a 529 plan. They break down the gift tax rules, including the special election that allows grandparents to contribute up to five years' worth of gifts at once, and explain how these contributions affect financial aid eligibility. The conversation also covers the recent change that lets families list the beneficiary as a sibling instead of the student, which can protect grandparent-owned accounts from hurting financial aid…
The skinny
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