Are There Tax Implications If I Give A 529 plan To Someone Else?

Prepare For College, LLC by Chuck Moore, CCFC, Al Hoffman, CCA and Gary Carpenter, CPA, CCA

13:35
Episode notes

Today, we’re answering a question a lot of parents and grandparents have: What happens if you change the beneficiary of a 529 plan to someone outside the family? Are there any tax implications, and if so, who actually pays the taxes and penalties?

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