Tax News You Can Use . . .

Little-Known Tax Facts about Closing out a 529 Investment Fund

In the year that you close out your college funds that have been invested in a 529 college savings plan account, you have the right to take a loss if you pulled out less than you invested. The loss is reduced by 2 percent of your adjusted gross income and can help if you itemize deductions and have enough to cover the 2% threshold.

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