By Mary Anne Busse
Managing Director, Great Disclosure LLC
April 15, 2013

In an earlier post, we talked generally about uses for your 529 Plan account. In this post, we’ll break down what is included in room and board expenses. First, a refresher:

If you use the funds in your 529 Plan account for Qualified Higher Education Expenses (as defined in Section 529 of the Internal Revenue Code), you will not be taxed on any of the income earned on your account. According to Section 529, Qualified Higher Education Expenses include, among other things, expenses for room and board incurred by students who are enrolled at least half-time.