Good for you for doing $50/month investing for your kids in the 1990’s when $50 was real money. And if the long-term capital gains tax is 20%, that means your kids were in a really high capital gains tax bracket. Good job! (even if the Dims taxed it more than they originally said)
The education accounts were supposed to be non-taxable. Like a Roth. Congress moved the goal line.
It only took a couple votes to grab 20% of our savings for Fedzilla.
Education savings that we all believed in went taxable on a whim. Twenty percent vigorish to the government.