In the current year, a beneficiary receives a distribution from a 529 Savings Plan in the amount
Question:
In the current year, a beneficiary receives a distribution from a 529 Savings Plan in the amount of $50,000. $12,000 of the $50,000 represents distributed earnings. If the beneficiary's qualified education expense paid during the current year equal $40,000, what portion of the distribution is taxable?
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In the context of a 529 Savings Plan qualified education expenses are genera...View the full answer
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Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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