Nov 26, 2018
The IRS issued guidance in July regarding changes in the tax law relating to 529 education savings plans. Part of the release relates to refunds of tuition or other qualified expenses to the beneficiary of the 529 plan who used 529 distributions to pay for the tuition that was refunded. That refund is taxable… unless you recontribute it to the plan within 60 days for future use. Click below for details on this and other items. Please contact us with any questions you may have.
https://www.irs.gov/newsroom/irs-offers-guidance-on-recent-529-education-savings-plan-changes
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