or does it have to go into a checking account?
2006-12-17 05:01:34 · 10 answers · asked by marymojo2002 2 in Business & Finance ➔ Taxes ➔ United States
It can go into either. On the form where you enter your account number, there are check boxes for type of account, savings or checking. Check the correct box.
This year you can even split it between multiple accounts, up to three, although to do this you have to use an additional form 8888.
2006-12-17 10:00:02 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
good grief, Tro *AND* Bash are incorrect. whilst the 529 plan is marketed to oldsters and grandparents, easily no longer something prevents one from placing out the account for oneself. even nonetheless, the placed up shows which you have did no longer carry close that the decrease fee costs on a 529 plan at the instant are not pre-tax funds, yet no longer paying tax on the earnings of the money in the plan. The IRS would not supply you a tax deduction for investment the plan (nonetheless your state would). for example, while you're in the 25% tax bracket and can use the $4000 deduction, you would be able to shop $1000 in tax. in case you place $18,000 right into a 529 and it earns $18 (that's what my financial agency is paying), you are able to shop a whopping $4.50 and not even that by using way the tax brackets artwork.
2016-10-15 03:07:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes - absolutely. You will need to provide the routing and account number. By choosing this option, you will receive your refund in less than half the time, than if you opted for a paper check.
2006-12-17 08:23:02 · answer #3 · answered by Country Boy 5 · 0⤊ 0⤋
You can put in whichever account you like. When you file your return, select the option for direct deposit. You will need to fill out your bank information and account number. If you're not sure what to enter, have your bank help you with that part.
2006-12-17 05:04:49 · answer #4 · answered by crazydave 7 · 0⤊ 0⤋
Yes, you can. You will need your routing number from your bank (ask them for the routing number and tell them the reason you need it...sometimes routing numbers are different depending on the type of transaction). You can specify your checking or savings account.
2006-12-17 05:11:36 · answer #5 · answered by nmernst 2 · 0⤊ 0⤋
Yes. For the first time, you can have the refund directly deposit into three different accounts - wheter saving, check, IRA etc.
Best wishes.
2006-12-17 05:21:21 · answer #6 · answered by JQT 6 · 0⤊ 0⤋
Yes, I do it every year. You just need the routing number and account number...both are on the bottom of your checks.
2006-12-17 05:19:04 · answer #7 · answered by Captain Jack 6 · 0⤊ 0⤋
I don't think they specify ,they just ask for the account number so it can go into either or..
2006-12-17 05:04:42 · answer #8 · answered by Tapestry6 7 · 0⤊ 0⤋
yes you can, have done it for alot of clients
2006-12-17 14:22:20 · answer #9 · answered by linluv2001 2 · 0⤊ 0⤋
YES YOU CAN I DID IT LAST YEAR
2006-12-17 05:57:13 · answer #10 · answered by Anonymous · 0⤊ 0⤋