Rules for Deducting 529-Plan Contributions. About two-thirds of the states offer an income-tax deduction for contributions to college-savings plans, but the rules vary.By Kimberly LankfordSee my bio, plus links to all my recent stories., December 11, 2012.ome states, however, only let you deduct your contribution if you are the account owner. Account owners in New York, for example, can deduct up to $5,000 per year in contributions to the stateâs plan (or $10,000 if married filing jointly).
non-monetary asset. Definition. Assets other than monetary assets like cash and bank deposits where there is no right to receive a specific amount of currency. Can also be considered as intangible assets that still have value to a company, such as equipment, inventory, and patents. Print Cite / Link.
A group is a parent and all its subsidiaries. Monetary items are units of currency held and assets and liabilities to be received or paid in a fixed or. determinable number of units of currency. Net investment in a foreign operation is the amount of the reporting entityâs interest in the net assets of. that operation. Presentation currency is the currency in which the financial statements are presented. Spot exchange rate is the exchange rate for immediate delivery. Elaboration on the definitions.