- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Simple answer: all of those are qualified expenses for 529 plan distribution. If the deposit is refundable, then it wouldn't qualify.
529 money can be use for off campus living, but you are limited to the lesser of your actual costs or the school's "allowance for cost for attendance" (basically what on campus students pay for Room & Board).
If the school breaks down the cost of attendance between room and board, your housing cost would be limited to the school's cost of attendance for room. The student must be half time or more, for a 529 distribution , for on or off campus living, to qualify.
https://www.glassjacobson.com/blog/529-off-campus-housing/ (Excellent off campus explanation)
‎December 9, 2022
1:04 PM
567 Views