Berkeley CSUA MOTD:Entry 54262
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2011/12/16-2012/2/6 [Reference/Tax] UID:54262 Activity:nil
12/16   If a couple contributes to their child's 529 Plan of $26000,
        is that amount tax sheltered (as in, your taxable income is
        reduced by $26000?)
        \_ No, but the gains are tax free when you use it later. It is
           similar to a Roth IRA, if you know how those work.