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Qualified for 529 distribution?
My son will finish school (4 years degree) by end of Dec2022 and will do his graduate walk in May2023. All his school expenses have been covered by 529 where I am the recipient, and he is beneficiary. I have been claiming him as my dependent all these years.
He will start working full time in Jan2023. His current contract for room and board is one year contract which start Aug2022-July2023. Question is if the monthly R&B expenses (Jan-July2023) still qualified for 529 distribution on my tax filing even if he is no longer a full-time student? If not, then if he pays for it himself, can he claim the expense as higher qualified education expense when he files his tax as independent for year 2023?
‎October 6, 2022
8:30 AM