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boli48309
New Member

Can I use 529 plan to pay a independent child's tuition

 
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3 Replies
TomK
Expert Alumni

Can I use 529 plan to pay a independent child's tuition

Please see TurboTax Lead Margaret's response to a similar question: https://ttlc.intuit.com/replies/5771234

A designated beneficiary is usually the student or future student for whom the plan is intended to provide benefits. The beneficiary is generally not limited to attending schools in the state that sponsors their 529 plan. But to be sure, check with a plan before setting up an account.

Q. Can I change the beneficiary of a 529 plan I have set up?

A. Yes. There are no tax consequences if you change the designated beneficiary to another member of the family. Also, any funds distributed from a 529 plan are not taxable if rolled over to another plan for the benefit of the same beneficiary or for the benefit of a member of the beneficiary’s family. So, for example, you can roll funds from the 529 for one of your children into a sibling’s plan without penalty.

https://www.irs.gov/newsroom/529-plans-questions-and-answers

mangumwa
New Member

Can I use 529 plan to pay a independent child's tuition

search results did not answer this question

Hal_Al
Level 15

Can I use 529 plan to pay a independent child's tuition

Q. Re: Can I use 529 plan to pay an independent child's tuition?

A.  Yes.  There is no requirement that the student be your dependent, or even related to you. It is only required that the student be the named beneficiary on the 529 plan.  

 

If the student has tuition and/or other qualified expenses, the distribution can be sent to either you (the owner of the plan) or him (the beneficiary) and still be a qualified distribution. 

 

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