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RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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I have a 529 account for my granddaughter.She is 16 and with

Resolved Question:

I have a 529 account for my granddaughter.She is 16 and with her French teacher is palnning a trip to france next ummer. acn she use her 529 account for this purpose? also is a cakifornia 529 deductable for federal income tax purposes/ Thank you
Submitted: 7 years ago.
Category: Tax
Expert:  RD replied 7 years ago.
Only qualified education expenses can be paid out of 529 plans. Travel trips to France will not be considered qualified education expenses as discussed below and hence will not be considered a distirbution fro education purposes.

Qualified education expenses. These expenses are the amounts paid for tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution. They also include the reasonable costs of room and board for a designated beneficiary who is at least a half-time student. The cost of room and board qualifies only to the extent that it is not more than the greater of the following two amounts.
  1. The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student.

  2. The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution.

In addition

Qualified Tuition Expense now includes the cost to purchase computer technology equipment and Internet access if it is used by the student enrolled at eligible educational institution.

Also, contribution to 529 plan is not deductible on your Federal income tax returns.

Let me know if you have any question.

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.


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Customer: replied 7 years ago.
Thank You. You have confirmed what I've been telling ny wife as he would like to pay for the proposed trip this way.