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Level 2
February 21, 2021
Question

529 plan - withdrew in Dec but didn't pay tuition until Jan

  • February 21, 2021
  • 2 replies
  • 20 views

I withdrew 529 money in December for a tuition bill that wasn't paid until January. It's looking like this was a rookie mistake. Is there anything I can do retroactively to recover the lost tax benefit?

    2 replies

    Hal_Al
    Level 15
    Level 15
    February 21, 2021

    You can put the money back within 60 days  of taking it out. This is treated as a rollover. 

    226RaAuthor
    Level 2
    February 21, 2021

    Thanks! To be clear, if I go this route, will I still take the tax hit this year, but recoup the losses next year?