529's for graduate room & board expenses

Parents Forum
1

<p>I am assuming that 529 money can be used for room and board in graduate school. Is there anything I should be aware of?</p>

2

<p>Just the usual, the charges for room and board to the 529 Plan cannot exceed the greater of what is included in the school’s cost of attendance for room and board or the actual amount that is charged if the student lives in school owned or operated housing.</p>

<p>Have receipts for whatever you charge to the 529 Plan.</p>

<p>See page 55 in the IRS Publication:</p>

<p><a href=“http://www.irs.gov/pub/irs-pdf/p970.pdf[/url]”>http://www.irs.gov/pub/irs-pdf/p970.pdf&lt;/a&gt;&lt;/p&gt;

3

<p>Try to take the money out during the same calendar year during which the bills are paid.</p>