Hi everyone. My parents, who currently live in Florida, contributed to a Virginia 529 plan, with my daughter listed as beneficiary. She just graduated HS & I realized too late that I couldv'e used some of the 529 funds to pay for k-12. Her HS is willing to work with me. I have 2 questions pls:
1) Her HS's willing to allow me to pay unpaid tuition w/ 529 funds. Based on my research, it seems I can only use funds for the months of school that she attended during the current tax year (January 2023) but not previous years. Is this accurate?
2) It seems that Virginia doesn't tax 529 withdrawals for k-12 up to $10k per beneficiary per year. And my parents live in Florida, which doesn't have personal income tax. However, my daughter went to school in NY. My understanding is that it doesn't matter where she went to school, my parents would not be taxed or penalized for the withdrawals. Is that correct?
Thanks!
