529 Plan Distribution Flowchart

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529 Plan Distribution Flowchart

I recently had a conversation with a client who had a big fat 529 plan and was planning to take a distribution from it to pay for his child’s first college tuition payment.  We both knew that this 529 plan would cover all the costs associated with college.  His question was surprisingly simple:

As long as this goes toward college expenses, I don’t have to pay taxes on the gains, right?

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