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New Member
posted May 31, 2019 5:49:18 PM

If the child lived at home and paid room and board to us through the Oregon College Savings 529 plan while full time in college would we have to pay tax on that "income"?

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Level 15
May 31, 2019 5:49:20 PM

No. He is only reimbursing you for expenses.

The question you didn't ask (maybe because you already know the answer) is: Does this expense count as eligible room & board for the 529 plan income exclusion? The answer is yes. But not the amount he actual pays you. You may exclude your  actual cost or the school's aid allowance, whichever is less. You may need to check with your child’s school to learn the room and board allowance for students living at home with parents. It’s likely to be less than off-campus students living independently, but should still be in excess of $1,000 per school year. 

1 Replies
Level 15
May 31, 2019 5:49:20 PM

No. He is only reimbursing you for expenses.

The question you didn't ask (maybe because you already know the answer) is: Does this expense count as eligible room & board for the 529 plan income exclusion? The answer is yes. But not the amount he actual pays you. You may exclude your  actual cost or the school's aid allowance, whichever is less. You may need to check with your child’s school to learn the room and board allowance for students living at home with parents. It’s likely to be less than off-campus students living independently, but should still be in excess of $1,000 per school year.