Can I use a 529 for continuing education credits...

[KevinChez]

Doing some research on this but was wondering if anyone knows if I can open a 529 for myself to use for continuing education credits. Gets expensive!

 

[ornerynorsk]

Short answer, yes. But you should talk to your institution for the details.

It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.

 

[ornerynorsk]

http://www.irs.gov/uac/529-Plans:-Questions-and-Answers

It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.

 

[KevinChez]

thanks…i was thinking more along the lines of maintaining my license rather than masters coursework.

 

[TomDOT]

Not worth the hassle.

 

[ornerynorsk]

It's like any other tax abatement or tax deferment scheme authorized by the IRS. It will fit some people, and for others there will be no advantage. One needs to look at their own individual situation and consult a tax accountant.

It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.

 

[ivymike]

authorized by the IRS...but only applicable to state taxes (0% in TX)

 

[ivymike]

I should say same-year tax deductions only at the state level ... gains are tax-deferred

 

[KevinChez]

according to my advisor you cannot use a 529 plan for continuing ed. only qualifying higher education expenses. i contacted my licensing board and they referred me to a plan advisor or irs. they would not comment.

thank you for your replies.

kevin

 

[DRWeig]

Thanks for checking back in, KevinChez.

Best to you,

Goober Dave

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