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Education
Since your daughter has graduated in 2018 already, there is no "exception" for you for 2019 or beyond. So no need to waste to your time really. Bottom line is, there will be a 10% penalty on withdrawals not used for education. Period. But there are some options you are probably not aware of.
- If you have someone else in the family that is attending college in 2019 or beyond (assuming you are the custodian of the 529 account) then simply change the beneficiary of the account and they can use the funds for their qualified education expenses.
- If your daughter will be going for a master's degree later, just leave the funds there and change nothing. She can use them for qualified expenses for the master's degree.
‎January 10, 2020
7:13 AM