Which of the following statements regarding qualified tuition programs is incorrect?
A) Distributions from income earned by a qualified tuition program are tax-free if used for qualified higher education expenses.
B) Distributions of income are taxed to the donor if the proceeds are not used for higher education expenses.
C) A qualified tuition program may be established by parents or grandparents.
D) Contributions to a qualified tuition program are distributed tax-free.
Correct Answer:
Verified
Q44: Cameron is the owner and beneficiary of
Q46: Greg is the owner and beneficiary of
Q47: Britney is beneficiary of a $150,000 insurance
Q48: Amanda,who lost her modeling job,sued her employer
Q50: Brad suffers from congestive heart failure and
Q50: Over the years Rianna paid $65,000 in
Q53: Elisa sued her former employer for discrimination.She
Q58: Rebecca is the beneficiary of a $500,000
Q60: Sarah receives a $15,000 scholarship from City
Q66: Tonya's employer pays the full premium on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents