[ad_1] The contribution limits for 529 plans typically aren’t mentioned that usually, for good cause: They’re sometimes fairly excessive, and lots of households will not contribute sufficient to satisfy them.That is as a result of, in contrast to retirement accounts like IRAs or 401(ok)s, the IRS does not set particular contribution limits for 529 school financial savings plans. As a substitute, the company merely notes that the quantity contributed to a 529 (additionally known as a professional tuition program, or QTP) cannot be greater than what’s wanted to pay for certified schooling bills[0]. Nonetheless, states do are inclined to set…
