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I received payments from my 529 college savings plan in December but paid tuition with that money in January ... do I have to pay taxes on my distribution in 2016 since I didn't spend the money until January 2017?

 
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RichardK
New Member

I received payments from my 529 college savings plan in December but paid tuition with that money in January ... do I have to pay taxes on my distribution in 2016 since I didn't spend the money until January 2017?

Generally, if you pay the tuition within 60 days of receiving a distribution from your 529 plan, you are not taxed on the distribution, click here for more information.

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