In 2018, grandparents contribute jointly owned funds to a § 529 qualified tuition plan on behalf of their granddaughter.
The maximum annual exclusion allowed to them is $150,000 ($30,000 × 5 years).

Question

Quizplus · Accepted Answer

The statement is true. Grandparents can make a joint contribution of up to $150,000 ($30,000 × 5 years) to a § 529 qualified tuition plan on behalf of their grandchild without incurring gift tax consequences.

In 2018, Grandparents Contribute Jointly Owned Funds to a §