Mr. and Mrs. Wilson want to establish QTPs for Dennis and their three other grandchildren, all of
Question:
Mr. and Mrs. Wilson want to establish QTPs for Dennis and their three other grandchildren, all of whom are under age11.
What is the maximum amount they can contribute in one year without making a taxable gift?
A. $56,000.
B. $112,000.
C. $140,000.
D. $560,000.
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Step by Step Answer:
The correct answer is C 140000 A Qualified Tuition Program QTP also known as a 529 plan is a taxadva...View the full answer
Answered By
Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
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Related Book For 
Essentials Of Personal Financial Planning
ISBN: 9781945498237
1st Edition
Authors: Susan M. Tillery, Thomas N. Tillery
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