Unlike coverdell ESA (education savings account), I understand you do not have to withdraw from your 529 in the same year that the expense is incurred. In fact you can wait until any point afterwards, perhaps several years, before withdrawing.
If true then it seems the 529 could be treated like a HSA. You leave it in, let it grow, and only withdraw later with your saved college expense receipts. If you have money left over you can pass it down to your kids.
Is anyone aware of this or was I misinformed?
Submitted December 17, 2023 at 01:40AM by achillezzz https://ift.tt/FNfRQsz
