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Can I invest in both a 529 plan and an education savings account (ESA) in the same year?

April 26, 2017Education ESA invest Plan savings account year

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Can I invest in both a 529 plan and an education savings account (ESA) in the same year?

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Yes. Both options offer federal tax-free education investing as long as the money is spent on qualified higher educational expenses such as tuition, fees, books, and room and board.* Section 529 plans can be used for post-secondary education (college and graduate or professional school), while ESAs can be used for post-secondary education as well as primary and secondary education expenses.