Comments on: 529 Plans: The 10% Penalty Solution, Part 1 http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/ A site to share my tips, tools, and humble thoughts on the journey to wealth Tue, 16 Mar 2010 07:08:55 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: Duane http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/comment-page-1/#comment-5043 Duane Tue, 21 Apr 2009 09:12:01 +0000 http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/#comment-5043 What if I've taken a loss on my 529? Can this loss be deducted on Federal taxes if I withdraw? What if I’ve taken a loss on my 529? Can this loss be deducted on Federal taxes if I withdraw?

]]> By: ML http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/comment-page-1/#comment-2996 ML Mon, 11 Jun 2007 00:56:07 +0000 http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/#comment-2996 Kevin, Assuming you will be making a non-qualified withdrawal, you'll get $10k (original contribution) + $5k (your gain) - $500 (10% penalty on the gain) - $5k * your marginal tax rate for ordinary income (tax on the gain). Kevin,

Assuming you will be making a non-qualified withdrawal, you’ll get $10k (original contribution) + $5k (your gain) – $500 (10% penalty on the gain) – $5k * your marginal tax rate for ordinary income (tax on the gain).

]]> By: Kevin http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/comment-page-1/#comment-2987 Kevin Fri, 08 Jun 2007 23:46:52 +0000 http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/#comment-2987 Can anyone tell me about the 10% penalty in the 529 plan? Lets assume that I contributed after tax of $10,000 over 10 years, and I made gains of $5000 over 10 years. Now I want to withdraw all my money. What do I get back? Can anyone tell me about the 10% penalty in the 529 plan?

Lets assume that I contributed after tax of $10,000 over 10 years, and I made gains of $5000 over 10 years. Now I want to withdraw all my money. What do I get back?

]]> By: ML http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/comment-page-1/#comment-2270 ML Tue, 23 Jan 2007 21:41:04 +0000 http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/#comment-2270 Scott, Good point. I'll compare it to a VA in part 2. Scott,

Good point. I’ll compare it to a VA in part 2.

]]> By: Scott http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/comment-page-1/#comment-2269 Scott Tue, 23 Jan 2007 20:12:31 +0000 http://www.1stMillionAt33.com/2007/01/529-plan-early-retirement/#comment-2269 Why not compare it to an annuity? No 10% penalty, more investment options, but possibly higher fees (Vanguard and Fidelity are pretty low though). Why not compare it to an annuity? No 10% penalty, more investment options, but possibly higher fees (Vanguard and Fidelity are pretty low though).

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