Please note that the Securities and advisory services are offered through Commonwealth Financial Network, member FINRA/SIPC, (www.FINRA.org/www.SIPC.org) registered investment adviser. 2 Bridgewater Rd. Suite 101 Farmington CT 06032 ; 860-470-7424
The fees, expenses, and features of 529 plans can vary from state to state. 529 plans involve investment risk, including the possible loss of funds. There is no guarantee that a college-funding goal will be met. In order to be federally tax-free, earnings must be used to pay for qualified higher education expenses. The earnings portion of the nonqualified withdrawal will be subject to ordinary income tax at the recipient’s marginal rate and subject to a 10-percent penalty. By investing in a plan outside your state of residence, you may lose any state tax benefits. 529 plans are subject to enrollment, maintenance, and administration/ management fees and expenses.
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