What happens if I roll over my Nebraska College Savings Plan account to another section 529 savings plan?
When a Nebraska College Savings Program (Nebraska Educational Savings Plan Trust; including, College Savings Plan of Nebraska, TD AMERITRADE 529 College Savings Plan, AIM College Savings Plan, State Farm College Savings Plan) is rolled over to another section 529 savings plan administered by a state other than Nebraska, the Nebraska College Savings Program account is considered to be canceled. The account owner is required to recapture any Nebraska College Savings Program contribution previously deducted for the years the canceled (rollover) account was in existence. The recapture is reported on Nebraska Schedule I for the tax year of the account rollover.
Related Questions
- How will my personal account with our current savings plan vendor, which I have set up outside of the savings plan, work after the conversion?
- If a distribution check was sent directly to a higher education institution from a 529 College Savings Plan account, will a 1099-Q be sent?
- What happens if I roll over my Nebraska College Savings Plan account to another section 529 savings plan?
