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Education
529 Expenses should be used for college expenses. Any money that is not used toward qualified expenses, is taxable to the recipient of the form.
I recommend you:
look at the IRS Worksheet for Determining Support
take the short online IRS quiz Whom May I Claim as a Dependent?
and recommend you look at another of my answers for help. in understanding how the money works.
Related:
- Qualified Expenses
- Qualified College
- Available Education Credits
- IRS Q & A about education credits
- Tax Benefits for Education: Information Center
- About Form 8863, Education Credits
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‎February 10, 2021
5:39 PM
25,827 Views