Tax treatment of 529 plan withdrawals

Qualified Higher Education Expenses for 529 Plans The amount of qualified expenses you may be able to use Section 529 plan distributions to pay for is To avoid adverse tax consequences, withdrawals from 529 plans can only be used to pay for qualified higher education expenses. For the savings plans,

18 Jul 2014 Withdrawals from a 529 plan are tax-free to the extent your child (or other account beneficiary) incurs qualified higher education expenses

Qualified education expenses do not include A distribution from a 529 plan that is not used for the above Find out the maximum contributions and withdrawals under a 529 Plan. in excess of the anticipated cost of a beneficiary39s qualified education expenses 529 plans, legally known as qualified tuition plans, are sponsored by states, state Withdrawals from college savings plans can generally be used at any

Higher Education Expenses That Qualify for 529 College Savings

Distributions from 529 plans used for qualified education expenses are tax- and penalty-free if the amount is equal to or less than the designated beneficiary39s 23 Sep 2014 A. A qualified, nontaxable distribution from a 529 plan during 2009 or 2010 now includes the cost of the purchase of any computer technology,

10 Sep 2013 Tax-favored Section 529 college savings plans have been around long enough that some folks are now taking withdrawals. Qualified 4 Sep 2012 Withdrawals from 529 plans are tax-free only if they are used to pay for so-called qualified higher-education expenses, as defined by the