Question: Which is correct regarding 5 2 9 plan distributions? Earnings on excess distributions are subject to a 1 0 % penalty. Excess distributions are subject

Which is correct regarding 529 plan distributions?
Earnings on excess distributions are subject to a 10% penalty.
Excess distributions are subject to a 10% penalty.
Room and board may be covered by a 529 plan distribution regardless of the students course load.
Technology costs may not be covered by a 529 plan distribution

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Need help with 50 MCQs on 1040s. Need 70% to pass. Serious inquiries only. Thank you. Exam in Progress Exam DT1TG16 - 1040 Income Tax Preparation Questions 50 Passing Score 70% 1. Available filing...

Q:

Need help with 50 MCQs on 1040s. Need 70% to pass. Serious inquiries only. Thank you. Exam in Progress Exam DT1TG16 - 1040 Income Tax Preparation Questions 50 Passing Score 70% 1. Available filing...

Q:

Need help with 50 MCQs on 1040s. Need 70% to pass. Serious inquiries only. Thank you. Exam in Progress Exam DT1TG16 - 1040 Income Tax Preparation Questions 50 Passing Score 70% 1. Available filing...

Q:

Hello I need answer of these questions. DO NOT ACCEPT IF YOU DON'T KNOW THE ANSWERS. IT WORTH 37% OF MY GRADES. I WILL NOT ACCEPT THE ANSWER IF THEY ARE NOT RIGHT!!! 1. Which of the following...

Q:

Please advise when this can be completed by. Unit 6 : Unit 6: Retirement Needs Analysis - Final Top of Form Time Remaining: Question 1.1. Which of the following statements regarding the...

Q:

This is a single access timed assignment.You have 90 minutes to complete the assignment once it is open.Please select the best answer. Note: this is a timed quiz. You may check the remaining time you...

Q:

Ray died this year at age 73, and his wife, Mary, age 55, is the designated beneficiary on his Roth IRA. Ray's Roth IRA was established 3 years ago. Which of the following statements is(are) CORRECT?...

Q:

Need help with 50 MCQs on 1040 individual income tax returns. Need at least a 70% to pass. Exam in Progress Exam DT1TG16 - 1040 Income Tax Preparation Questions 50 Passing Score 70% 1. Available...

Q:

Need help with 50 MCQs on 1040 individual income tax returns. Need at least a 70% to pass. Exam in Progress Exam DT1TG16 - 1040 Income Tax Preparation Questions 50 Passing Score 70% 1. Available...

Q:

Need help with 50 MCQs on 1040 individual income tax returns. Need at least a 70% to pass. Exam in Progress Exam DT1TG16 - 1040 Income Tax Preparation Questions 50 Passing Score 70% 1. Available...

Q:

The article Going Wireless (AARP Bulletin, June 2009) reported the estimated percentage of households with only wireless phone service (no landline) for the 50 states and the District of Columbia. In...

Q:

In the game of keno, 20 balls are selected at random from 80 balls numbered 1-80. In Exercise 1.44 on page 15, you used simple random sampling to simulate one game of keno. a. Use systematic random...

Q:

Allotments is an example of which type of federal government: Budgetary and Proprietary Select a combination below. Group of answer choices No / Yes Yes / No No / No Yes / Yes

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...