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 Report on Value Lost because of Value Limitations under Tax Code Chapter 313 Form 50 767 2020

Texas Lost because 2020-2025 Form

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we'll be going over worksheet 6-3 coverl Esa taxable distributions and bases which you can find in IRS publication 970 tax benefits for education so uh coverl esas have largely been replaced by qualified tuition programs uh more commonly known as College 529 savings plans or prepaid tuition plans uh predominantly because uh coverl esas came first under the tax code so that uh when uh 529 plans came out they were introduced with larger annual contribution limits uh without reference to any income uh like adjusted gross income limitations and the account owners usually parents or grandparents have a little bit more control over the final uh disposition of the assets within the account however lots of taxpayers still have covered L esas and they're using them to pay for their kids education so we're going to cover how you use this worksheet to determine what is taxable distribution in a given year and what is basis so uh a lot of parents you know have been saving f

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