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New HUSTLE Act Creates Tax-Favored Accounts for College Athletes
News July 08, 2026 at 10:41 AM
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What You Need To Know
- The bill creates tax-advantaged investment accounts for NIL income.
- An amount up to the annual gift tax limit could be contributed each year, and up to $35,000 could be rolled into an IRA after the athlete's college career.
- Funds could be withdrawn penalty-free before graduation for career transition, education or medical expenses.
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