Do I have to live in a state to participate in that state’s 529 College Savings Plan?
While all states offer some type of 529 plan, there’s no requirement that you pick your own state’s plan. It’s best to compare plans and their differences. For example, some state plans, such as California, do not currently offer income tax deductions for plan contributions. In this case, other state’s plans may have lower costs or more attractive investment features.
Related Questions
- If I participate in a 529 college savings plan that is not managed by the state of Oregon, can I still take the $2,000 deduction from my Oregon taxable income?
- How does The State Farm ® College Savings Plan sponsored by the State of Nebraska work?
- Do I have to live in a state to participate in that state’s 529 College Savings Plan?
