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#43453 - 06/04/08 12:24 PM IL 529 plan... is this still allowable?
X terminator
Registered: 03/08/07
Posts: 59
is Il tax deduction allowed for contribution and withdrawal for college expenses in same calender year? No recapture?
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#43456 - 06/04/08 03:39 PM Re: IL 529 plan... is this still allowable? [Re: X terminator]
Dopps
Registered: 01/23/02
Posts: 1187
The deduction is still good, as there is no recapture in this case. IL will recapture an earlier dedcution only for those assets that you roll over from an IL 529 to another qualified tuition program run by any other state.
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