Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. during the year, g withdrew $12,000 from a 529 pla

During the year, G withdrew $12,000 from a 529 plan for his daughter. He used...

90.2K

Verified Solution

Question

Accounting

During the year, G withdrew $12,000 from a 529 plan for his daughter. He used the most of the money to pay for the following costs associated with her first year of college: tuition $10,000, fees $1,000, apartment rental $3,000, computer $1,600, books $400, appliances and furniture $505, and bedding $200. How will the $18,000 be treated?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Operations Management
1.2K views

Who started Facebook? How old was he then? Now? How much control does the founding CEO...

Physics
1.2K views

7 A stone is dropped from the top of tall cliff and n seconds later...

Geometry
1.2K views

Consider the following curve x 5 X 4 Find the slope m of the tangent...

Basic Math
1.2K views

A group of mountain climbers begih an expedition with 250 pounds of food. They plan...

Basic Math
1.2K views

f(x) = 3x + 54x +236Axis of Sym.: x=-11Max value = -5Axis of Sym.: y...

Statistics
1.2K views

In an election suppose that 65 of voters support the incumbent candidate If we poll...

Algebra
1.2K views

4 2 points Let V R and let W W is a subspace of V...

Algebra
1.2K views

If the original exponential function defined by y 4 how would it change if y...

Accounting
1.2K views

10. Suppose the rule for lottery is the following: Each lottery ticket is $1, on...

Accounting
1.2K views

ABC Ltd conducted an impairment test of one of its cash generating units (CGU) at...

Finance
1.2K views

do required part numbers 1-4 Babes has the following bonds in her investment portfolio...

Accounting
1.2K views

Trailers R Us Company, which uses an activity-based costing system, produces travel trailers and boat...