The profit in an account is what may be subject to tax.
Karin Price Mueller | NJMoneyHelp.com for NJ.com
Q. We put $90,000 into 529 plans for our three kids. Currently, all plans are down and have actually lost money. We have come into financial problems and need some of that money to purchase a car. We have withdrawn $10,000 from each of the accounts. How will we deal with this come tax time?Note to readers: if you purchase something through one of our affiliate links we may earn a commission.
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