Hi Everyone -
Thanks in advance for helping with my question. I am the owner and beneficiary of a 529 account, and would like to begin using it to pay for my grad school expenses. The 529 account size is only ~4.5k relative to the total expenses which exceed 100k.
My question is very basic - how do I mechanically distribute these funds to myself / my landlord to pay rent (within the monthly limit provided by the school to the DoE as the cost of attendance)? Can I simply setup a withdraw and have a check sent to my landlord? Will this "screw up" anything on the backend when I file my 2021 taxes? I believe the distribution will trigger at 1099Q which will then be the way I answer my questions in TT.
Thank you,
Tim
