Andre began college last year and is in the process of applying again for financial aid...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Andre began college last year and is in the process of applying again for financial aid for his third year of college. Andre received some distributions from various sources to pay for his expenses in his first year. Which one of the following distributions that occurred last year will not have an adverse effect on the financial aid that Andre may receive in the coming year (assume Andre is filing his FAFSA for the 2021-2022 academic year)? Oa. A distribution of contributions made by Andre's parents to a Roth IRA. b. A qualified distribution from a 529 Savings Plan that was funded with a transfer from Andre's UTMA account. c. A qualified distribution from a 529 Savings Plan owned by Andre's grandparents. d. A distribution of income from a trust established for Andre. Andre began college last year and is in the process of applying again for financial aid for his third year of college. Andre received some distributions from various sources to pay for his expenses in his first year. Which one of the following distributions that occurred last year will not have an adverse effect on the financial aid that Andre may receive in the coming year (assume Andre is filing his FAFSA for the 2021-2022 academic year)? Oa. A distribution of contributions made by Andre's parents to a Roth IRA. b. A qualified distribution from a 529 Savings Plan that was funded with a transfer from Andre's UTMA account. c. A qualified distribution from a 529 Savings Plan owned by Andre's grandparents. d. A distribution of income from a trust established for Andre.
Expert Answer:
Answer rating: 100% (QA)
ANSWER C is the right answer grandparents owned 529 saving plan distribution is allowed The Student ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A manufacturing business is in the process of applying for property insurance. What kind of information must the business disclose to the insurance company? Why can insurance companies deny coverage...
-
The McKnight Company is in the process of preparing its manufacturing overhead budget for the upcoming year. Sales are projected to be 42,000 units. Information about the various manufacturing...
-
An entrepreneur is in the process of contacting three different venture capitalists and asking each to evaluate her new business proposal. What questions should she be able to answer about each of...
-
Predict your results. Write "yes" or "no," depending on whether you think the plate will show growth. Give the reason (s) for your predictions. Observe the colonies through the petri plate lids. Do...
-
Compute the MIRR statistic for Project J and advise whether to accept or reject the project with the cash flows shown as follows if the appropriate cost of capital is 10percent. Project J Time Cash...
-
The average of six consecutive positive integers is 14.5. What is the value of the smallest positive integer?
-
The flowchart on the following two pages illustrates a system for executing purchases and cash disbursement transactions. Required: Indicate what each of the letters A through L represents in the...
-
1. Create a detail report that will display all Personal Trainer courses in alphabetical order, with the course name and the instructor name in a group header; the Social Security number, name, and...
-
CU Corporation has a fixed-for-fixed currency swap signed at an exchange rate of JPY/USD 111 with a "notional" principal of USD 100 million. The term of this contract is to swap the JPY payments into...
-
Assume you have an graph as following. Use Dijkstra Algortihm to calculate shortest path from vertex A to every vertex (manuel calculation). Write the Dijkstra code to generate this graph and find...
-
You expect Technomess Company common stock to pay a dividend of $2.40 one year from now. You can buy the stock now for $52, and you plan to sell the stock at the end of one year. Given the risk of...
-
Find lim h-0 f(2+ h)-f(2) h if f(x) = x+2. f(2+ h)-f(2) lim (Simplify your answer.) h h-0
-
Explain how to partition data into training, validation, and test sets in order to construct and evaluate predictive data mining models.Be sure to support your comments with reference
-
Find the amount of a promissory note of $58,560 settled 60 days after the due date. The default interest stipulated in the payment is 48%
-
Show that u(x,t) = [sin(x-t) + sin(x + t)] is a solution to the one-dimensional J wave equation given by t = u x
-
2. Evaluate the function f(x,y)=xy+1 for each of the following: (a) f(2,1) (b) f (1,2)
-
Analyze the below diagram with three phases of production in Economics? (9 marks) TPP/MPP Stage 1 Stage Il L Stage III M UNITS OF LABOUR MPP Production functions TPP
-
KD Insurance Company specializes in term life insurance contracts. Cash collection experience shows that 20 percent of billed premiums are collected in the month before they are due, 60 percent are...
-
It is possible to reduce risk in a portfolio by diversification. Required a. Do you agree with this statement? Explain why or why not. b. Can the risk of a portfolio be reduced to zero by...
-
Explain why it is desirable to find the exact time that the market first became aware of an item of accounting information if any security price reaction to this information is to be detected. Can...
-
In May 2009, financial media reported that over 59% of shareholders of Royal Dutch Shell plc voted against the companys 2008 executive compensation report. The objection arose because of bonuses...
-
Mention the areas of application of the fuel cell.
-
Estimate the standard free energy change and equilibrium constant at \(700 \mathrm{~K}\) for the reaction \[ \mathrm{N}_{2}(\mathrm{~g})+3 \mathrm{H}_{2}(\mathrm{~g})=2 \mathrm{NH}_{3}(\mathrm{~g})...
-
A system was prepared by partially decomposing \(\mathrm{CaCO}_{3}\) into an evacuated space. What is the number of degrees of freedom \((f)\) for the system?
Study smarter with the SolutionInn App