Are 529 Plans State Specific? You can use a 529 plan from any state to pay for an eligible college in any state. … State income tax breaks are generally limited to the 529 plan for the state of residence, although seven states provide their state income tax breaks for contributions to any state’s plan.
Can I Buy A Bike With 529 Plan? You cannot use a 529 plan to buy or rent a car. Transportation costs, including the costs of purchasing and maintaining a car, are considered non-qualified expenses. Students can save on transportation costs by renting a car, using a rideshare service or riding a bike or electric
Can You Use 529 Funds To Pay For Summer Camps? You cannot use a 529 plan to pay for summer camp costs. 529 plan distributions used to pay for summer camp will be considered non-qualified and subject to income tax and a 10% penalty on the earnings portion of the withdrawal. Can 529 be used