I have a somewhat esoteric 529 question - my son will start a graduate program at a Scottish university in September. The school has a FAFSA number, so we are able to use funds in his 529 account for this purpose. Tuition is straightforward, but I not sure how much I can use for his off-campus accommodation costs, particularly food costs. For housing, I plan to use the numbers the schools provides for postgraduate housing, but the school does not offer any meal plans or provide any specific advice on anticipated cost of accommodation, even for undergraduates. The school does link to a third-party survey that indicates average grocery and eating costs for students at this university. Those numbers look low to me, but we could live with it if they would be acceptable to the IRS. Has anyone on here had experience with this issue or have any suggestions how we can decide how much to withdraw for food costs?
Edited to add: Our son’s actual housing expenditures will be higher than the housing costs posted by the university, but we will only withdraw the amount the university charges for equivalent housing.
Sorry, I don’t know the answer. However, my D found that her food costs were low when she studied in Edinburgh … but that was a number of years ago. I’m not sure what costs are now in Scotland.
For my own tax returns, I would print out that page to keep as a backup for why those 529 withdrawals were reasonable and justified. Especially if they were lower than the actual expenses, I would feel quite comfortable arguing the point, if my personal tax return was ever audited.
Not professional advice, though - and you may assess your risks differently than I do.