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Frequently Asked Questions

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Are rollovers from a CollegeCounts 529 Plan to Roth IRA exempt from current year Alabama Income Tax?
Is any of the portion of the rollover to a Roth IRA subject to recapture and the 10% penalty?
What is the Alabama state income tax deduction for contributions to the Alabama ABLE Savings Plan?
What is the deadline for contributions to be deductible on your Alabama tax return?
What are the tax consequences on ABLE plans that are purchased outside of Alabama?
Does Alabama income tax law recapture previously deducted contributions when withdrawing money from an Alabama ABLE Savings Plan for non-qualified expenses?
What is the Alabama state income tax deduction for contributions to the CollegeCounts 529 Plan?
What is the deadline for contributions to be deductible on your Alabama tax return?
Are rollovers from a CollegeCounts 529 Plan to an out of state plan subject to recapture of previously deducted contributions?
If the money from my CollegeCounts 529 Plan is used to pay for my child’s expenses at an out-of-state college, will it be considered taxable?
Does Alabama income tax law recapture previously deducted contributions when withdrawing money from a CollegeCounts 529 Plan for non-qualified expenses?
When rolling over an out-of-state 529 plan to the CollegeCounts 529 Plan, is the rollover into the fund (contributions and earnings) exempt from any current year Alabama income tax?
Is the money from a Florida 529 Savings Plan taxable if it is used to pay for my child’s higher education expenses?
What are the tax consequences on 529 plans that are purchased outside of Alabama?