529 College Savings Plan Transfer Question?
I’m expecting my first child shortly and working on opening up a 529 Savings plan to get a start on saving for their education. Since I live in
I’m expecting my first child shortly and working on opening up a 529 Savings plan to get a start on saving for their education. Since I live in CA there are no state tax deductions for opening a plan in my home state. If I open a plan in another state and eventually move there some day, can I start taking advantage of that state’s tax deductions once I move there? Or can you only get the tax benefits if you are a resident of the state when you open the plan?
or:I\u2019m expecting my first child shortly and working on opening up a 529 Savings plan to get a start on saving for their education. Since I live in CA there are no state tax deductions for opening a plan in my home state. If I open a plan in another state and eventually move there some day, can I start taking advantage of that state\u2019s tax deductions once I move there? Or can you only get the tax benefits if you are a resident of the state when you open the plan?
