afac3f81_mies_Cheat_Sheet___For_Dummies__Tax_Issues
[Savings Vehicle] 529 plans [Possible Contributors] No relationship or income-limitation test. [Possible Uses] Any expenses you choose. However, distributions used to pay for nonqualified expenses are subject to income tax on the earnings portion, plus a 10% penalty. Designated beneficiary. [Tax Issues] 
No tax paid on interest earned until distributions are made. Currently, distributions used for qualified educational expenses are tax-exempt.
529 and Other College Savings Plans For Dummies Cheat Sheet - For Dummies
Tax Issues