Morning,
Here is the situation.
We had/have 529 money. Over the course of 4 years we withdrew 529 money to cover any delta between expenses and scholarships/ grants.
She has graduated.
We did not withdraw money to equal scholarships/grants.
Now here we sit with $75,000 of unused 529 funds and we want to withdraw it for her to use as a downpayment on a house. We uderstand the tax on the earned amount the question is can I still write off 529 money because of the $100,000 she received in scholarships that we never wrote it off against to avoid the 10% penalty, I have seen different opinions as well as comments that there is a way to do this on turbo tax
R
