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Can a 529 withdrawal be reported as a qualified expense when used to pay for room and board for a dependent, full-time college student who lives at home?
My son is a full-time college student who lives at home. I claim him as a dependent, and I pay monthly child support to his mother to cover his room and board, as stipulated in the divorce settlement. I have a 529 account with my son named as beneficiary. Can I withdraw from the 529 to cover his child support expenses? Since the money is applied to his room and board, is it considered a qualified expense?
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May 31, 2019
5:46 PM