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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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529 question
I want to open a 529 for Maddie- question is- say I open one in NJ where we live now- and we move later, say to NY- does anyone know if you can transfer the NJ acct into a NY acct for the tax savings?
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Posted 2/15/07 11:02 AM  |
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Long Island's Largest Bridal Resource |
iwed2005
LIF Adult
Member since 3/06 1389 total posts
Name:
Julie
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Re: 529 question
you can. you can actually open a 529 in any state you want and then transfer later on. 529 info
this link helped me a lot
Message edited 2/15/2007 11:12:53 AM.
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| Posted 2/15/07 11:08 AM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: 529 question
Posted by Sassyz75
I want to open a 529 for Maddie- question is- say I open one in NJ where we live now- and we move later, say to NY- does anyone know if you can transfer the NJ acct into a NY acct for the tax savings?
There is no reason to transfer a 529 plan unless you are doing prepaid tuition and those types of plans are not transferable. The only benefit of opening a 529 plan hosted by your state (aside from tuition based plans) is the state tax credit if available. The features of tax free withdrawals remain the same regardless of which state you reside in.
Message edited 2/15/2007 11:23:51 AM.
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| Posted 2/15/07 11:15 AM |
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ddunne2
LIF Adult
Member since 7/05 4189 total posts
Name:
Doreen
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Re: 529 question
Look for the states with the lowest fees. No matter what state you open it in, it can be used anywhere regardless of your residence.
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| Posted 2/15/07 11:23 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: 529 question
Posted by iwed2005
you can. you can actually open a 529 in any state you want and then transfer later on. 529 info
this link helped me a lot
thank you so much- this site is awesome!!
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| Posted 2/15/07 11:27 AM |
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