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College and University Discussion
Reply to "529 plan—refund of room & board "
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[quote=Anonymous]It depends on when you paid the tuition. If you paid in 2019 and claimed it on your taxes, then you need to send that money back to the 529. There is a process. I had about $4K that I sent back to 529 because I did not have any other expenses adding up to $4K obviously that could cover that. I believe you have until June 15...I am not sure about that date. You need to call 529. You don't want to end up paying penalties and income tax on those moneys if you can avoid it (if ever audited).[/quote]
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