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To amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to a 529 plan.
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This bill allows a tax deduction for contributions to a qualified tuition program (known as 529 plans) up to $10,000 in a taxable year. Taxpayers whose adjusted gross income exceeds $200,000 in a taxable year are not eligible for the deduction.
Referred to the House Committee on Ways and Means.
Introduced in House
Congress.gov source codes: 1000, Intro-H
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Sources: Congress.gov