Question: QUESTION 7 Martha participated in a Section 529 qualified tuition program for the benefit of her son. She invested $6,000 in the fund. Four years

QUESTION 7 Martha participated in a Section 529 qualified tuition program for the benefit of her son. She invested $6,000 in the fund. Four years later her son withdrew $8,000, the entire balance in the program, to pay his college tuition. Which of the following is correct? a. Martha is not required to include the $2,000 ($8,000 - 56,000) in her gross income when the funds are used to pay the tuition b. Martha's son must include the $2,000 ($8,000 - $6,000) in his gross income when the funds are used to pay the tuition c. Martha must include $8,000 in her gross income. Od. Martha's son must include $8,000 in his gross income. QUESTIONS Mary establishes a Roth IRA at age 50 and contributes the maximum amount per year to the Roth IRA for 15 years. The account is now worth $199,000, consisting of $75,000 in contributions plus $124.000 in accumulated carings. How much can Mary withdraw tax-free O a 50 b. 5124,000 O c5199,000 @d $75,000

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