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Reply to "How do you manage 529 payouts for students off campus?"
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[quote=Anonymous]The 529 will not ask for receipts. You simply request a distribution. The IRS may ask for documentation or you could get audited, so you should have receipts on file. Remember that room and board off campus is capped at the school's cost of attendance or the actual cost. He should keep all the grocery and rent receipts and try not to mix up qualified and unqualified expenses. So get two receipts to separate out the Hot Pockets from the PBR. [/quote]
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