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Get your taxes done using TurboTax
What am I missing? Room and board are considered qualified expenses for a 529 plan. See publication 970.
https://www.irs.gov/forms-pubs/about-publication-970
Why would any distribution be taxable to the parent or the child, as long as the distribution is not more than their qualified expenses (after adjusting for the tax-free scholarship)?
‎November 20, 2023
11:53 AM