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About to open 529 for my grandsons in NJ. Can my father (their great grandfather) get a tax deduction if he contributes to it? He earns more on investments than we do.
About to open 529 for my grandsons in NJ. Can my father (their great grandfather) get a tax deduction if he contributes to it? He earns more on investments than we do. We are retired, but pre Social Security. My dad gets Social Security and also RMD's from IRA's and interest on CD's etc. His income is higher than ours. We are going to open a 529 for our grandsons and I just wanted to clarify if the tax deduction is only for us (the ones opening the account) or if he can claim whatever he contributes. (assuming...
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