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Podcast: The College Investor Audio Show
Episode: How To Pay For College With A 529 Plan
Description: Taking money out of a 529 plan is more complicated than putting money into a 529 plan.If you do it incorrectly, you may owe taxes and a 10% tax penalty, plus recapture of state income tax breaks attributable to the distribution.If you're getting reading to take 529 plan distributions to pay for college (or K-12 tuition, student loans, or even a Roth IRA rollover), here's what you need to know so you don't end up receiving a tax penalty.