Regarding 529 - Plain and Simple - Is Room and Board a Qualifying
Expense? We have been told for years to
save in a 529 and the money withdrawn can be used for Tuition AND Room &
board - Tax Free. Is that not the case?
Turbo tax asks for the 1098-T, which only lists the Tuition portion of
our student's expense, not Room & Board.
The 1099-Q lists the total distribution which is essentially double the
Tuition. Turbo tax is telling us that we
have to pay tax on the entire earning portion of the distribution that we took
for Room and Board. I'm I reading this
correctly?
Thank you.
