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Retirement tax questions
As I understand - You can withdraw funds from a custodial account for educational purposes - tax free.
Grandchildren withdrew funds from the custodial account - used to pay college tuition.
How the grandchildren report this on their tax return. 1099 from Charles Schwab shows the withdrawal. How do I deduct use for tax-deferred college tuition on tax return - and withdrawal not subject to taxes.
thanks for help
‎April 14, 2022
7:17 AM