- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
No, qualified expenses are not taxable income. I would absorb the extra $6,000 into room and board. You can take out more than $6,000. Room and board is higher than that, usually. Add books and supplies, etc it adds up.
- See page 52 for qualified distributions at IRS Publication 970, Tax Benefits for Education.
- Please see my 529 example with IRS information here.
- See also Publication 970, Tax Benefits for Education.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
May 6, 2021
5:00 PM