Tax Reduction Letter - Federal Tax Deductions for Section 127 Education of Grandchild

Article Date:

August 2009

Word Count:

167

Federal Tax Deductions for Section 127 Education of Grandchild

My question concerns the Section 127 tax deduction that you wrote about last month. If my employee is my grandchild, who is under the age of 21, can he or she receive full educational benefits under the Section 127 plan? I should add that this grandchild is not my dependent but my son’s dependent and that my son is not in my business. Also, I own 100 percent of my business. (W.L., Quincy, Mass.)

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