Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
If a grandparent has a Maryland 529 for my daughter's
If a grandparent has a Maryland 529 for my daughter's college and I live in California then what is the best course of action: To transfer money into a 529 (which I have to do I think) that I set up w… read more
Tax.appeal.168
Tax.appeal.168
Tax Accountant
4,921 satisfied customers
I have a tax question about 529 funds. With the new 2018
Hello. I have a tax question about 529 funds. With the new 2018 law, can you use 529 funds for a pre-kinder program at a private elementary school? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,723 satisfied customers
If a grandfather has 75,000 in a 529 plan can the grandson
If a grandfather has 75,000 in a 529 plan can the grandson get the pell grant starting his freshman year in college… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,723 satisfied customers
If your child whom you have a 529 college plan for becomes
If your child whom you have a 529 college plan for becomes disabled and you take instead non - qualified distributions to fund their medical and living expenses do you owe the 10% IRS penalty and tax … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My son is a college student, he does not work but he has a
my son is a college student, he does not work but he has a 529 college savings plan. I put all the information on my return but it said since he had made money on that, that he needed to put it on his… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,723 satisfied customers
I have a question about withdrawals from a 529 college
I have a question about withdrawals from a 529 college savings plan. … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I withdrew money from a 529 college savings plan to pay
I withdrew money from a 529 college savings plan to pay tuition for my son. He subsequently received an ROTC scholarship which paid his tuition. The university refunded the money directly to him. Does… read more
PDtax
PDtax
Owner
Master's Degree
1 satisfied customers
23 year old full time student has $1,500 from earned income
23 year old full time student has $1,500 from earned income (W2), money in an investment account, rec'd 529 distribution and scholarship for college. He did not support himself from "earned" income, b… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
A college student who is claimed by his parents receives a
A college student who is claimed by his parents receives a 1099-Q (in his SSN) which reflects earnings of 3,104 on a distribution from his 529 account. He is both the recipient & beneficiary on the 10… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
A withdrawal from a 529 plan for college savings is
A withdrawal from a 529 plan for college savings is generally taxable a(as ordinary income, correct?) to the receiving owner or beneficiary to the extent of earnings on the original investment, plus a… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
My son is heading to college this fall. Hes receiving $25,000
My son is heading to college this fall. He's receiving $25,000 in scholarships from the college, but will have to make up about $35k through federal loans, work study, and money we have saved in a 529… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Can 529 and tax free state scholarship funds be used to claim
Can 529 and tax free state scholarship funds be used to claim American Opportunity Tax Credit? GA Hope paid $4200, GA 529 paid $6000 ($5428 was basis). GA 529 sent me a document with basis and earning… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
Have a question about using my daughters 529 college savings
Have a question about using my daughter's 529 college savings plan. She lives in Charleston SC and is an off-campus student. What do I need to be doing to track that the money I take from her 529 is u… read more
PDtax
PDtax
Owner
Master's Degree
1 satisfied customers
The following is a brief description of the fact pattern I
The following is a brief description of the fact pattern I am troubled with: For 2011 tax year, my wife filed MFS status and I filed HOH status. I claimed our only son (age 19, Sophomore in college) a… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
If a grandparent is the owner of a 529 Education account for
If a grandparent is the owner of a 529 Education account for a grandchild, is the value of that account included in the grandparent's estate at the time of estate taxation?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
In 2009, I received a distribution of $4448 from a Michigan
In 2009, I received a distribution of $4448 from a Michigan Education Savings Program 529 plan of which $626 was earnings. My son is the beneficiary. With this distribution, I paid tuition and fees fo… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Are funds in a 529 safe from nursing homes if they are ...
Are funds in a 529 safe from nursing homes if they are given by the grandparents? Is there a check back period or are all funds in 529 safe?… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
If you are a grandparent building college funds for your ...
If you are a grandparent building college funds for your grandchildren, are the 529 or any college funds tax deductable at state and federal level? What about IRA or 401k funds into the college funds?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x