Gifting made easy
With a Path2College 529 Plan, anyone can make a gift contribution to your child’s college education. From grandparents and other family members to friends and neighbors, everyone can help your child reach their goals.
Contributions can make a great gift for special occasions like birthdays or holidays.
Legacy and estate planning
Gifting larger amounts to a 529 account is a unique opportunity to support your loved one’s college education and contribute to your personal investments.
How do 529 plans work for legacy and estate planning?
For the tax year 20232024:
- There’s no federal gift tax on contributions you make up to $17,000$18,000 per year if you’re a single filer, or $34,000$36,000 if you’re filing jointly.
- You can accelerate your gifting with a lump sum gift of $85,000$90,000 for single filers or $170,000$180,000 for joint filers and pro-rate the gift over five years per the federal gift tax exclusion.
- You can gift this amount to as many individuals or beneficiaries as you like, free from gift tax.
What are the federal estate and gift tax benefits?
Contributions to a Path2College 529 account may help reduce the taxable value of your estate.
Are there state tax benefits for giving to a Path2College 529 Plan account?
Georgia taxpayer gifts may be eligible for the Georgia state income tax deduction.1