Mother participated in a qualified state tuition program for the benefit of her son.She contributed $14,000.When the son entered college,the balance in the fund satisfied the tuition charge of $20,000.When the funds were withdrawn to pay the college tuition for her son,the son must include $6,000 in his gross income.

Question

Quizplus · Accepted Answer

The son does not need to include any amount in his gross income when the funds are withdrawn from a qualified state tuition program to pay for qualified education expenses, such as tuition. Therefore, the statement that the son must include $6,000 in his gross income is false.

Mother Participated in a Qualified State Tuition Program for the Benefit