John withdrew $16,000 from a 529 plan for his 12-year-old son, John Jr. John Jr. is in 6th grade and attends a private middle school. Assuming that the $16,000 is all earnings in the 529 plan, how much of the distribution would be considered taxable income?

Answer rating: 100% (QA)

To determine the taxable portion of the distribution from the 529 plan we ne... View the full answer