Description of chairman's mark of the "Affordable Education Act of 2001": scheduled for markup by the Senate Committee on Finance on March 13, 2001 (Perfect)"

1

Cover Art for 9781234884536, Description of chairman's mark of the "Affordable Education Act of 2001": scheduled for markup by the Senate Committee on Finance on March 13, 2001 (Perfect)" by United States Congress Joint
ISBN: 9781234884536
Publisher: Books LLC
Published: 22 November, 2011
Editions:
49 other editions of this product
Part of Battletech (Series)

OCLC Number: 56356329 Excerpt: ... II. PRIVATE PRE-PAID TUITION PROGRAMS; EXCLUSION FROM GROSS INCOME OF EDUCATION DISTRIBUTIONS FROM QUALIFIED TUITION PROGRAMS Present Law Section 529 of the Code provides tax-exempt status to " qualified State tuition programs, " meaning certain programs established and maintained by a State ( or agency or instrumentality thereof ) under which persons may ( 1 ) purchase tuition credits or certificates on behalf of a designated beneficiary that entitle the beneficiary to a waiver or payment of qualified higher education expenses of the beneficiary, or ( 2 ) make contributions to an account that is established for the purpose of meeting qualified higher education expenses of the designated beneficiary of the account ( a " savings account plan " ). The term " qualified higher education expenses " generally has the same meaning as does the term for purposes of education IRAs ( as described above ) and, thus, includes expenses for tuition, fees, books, supplies, and equipment required for 3 the enrollment or attendance at an eligible educational institution, as well as certain room and board expenses for any period during which the student is at least a half-time student. No amount is included in the gross income of a contributor to, or a beneficiary of, a qualified State tuition program with respect to any distribution from, or earnings under, such program, except that ( 1 ) amounts distributed or educational benefits provided to a beneficiary are included in the beneficiary's gross income ( unless excludable under another Code section ) to the extent such amounts or the value of the educational benefits exceed contributions made on behalf of the beneficiary, and ( 2 ) amounts distributed to a contributor ( e.g., when a parent receives a refund ) are included in the contributor's gross income to the extent such amounts exceed 4 contributions made on behalf of the beneficiary. A qualified State tuition program is required to prov...

Booko is reader-supported. When you buy through links on our site, we may earn an affiliate commission. Learn more

Shop Preferences

Customize which shops to display. You can include the following shops by logging in to change your settings.

Booko is reader-supported. When you buy through links on our site, we may earn an affiliate commission. Learn more

Historical Prices

Loading...
This graph is for informational purposes only. Occasionally pricing data is captured incorrectly, through bugs in Booko or the stores supplying data, which may distort the graph, providing undue hope that even lower prices sometimes appear.

Recommended