Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I searched the boards to see if this has been discussed before and did not turn up anything.Please direct me if it has been

I have a son in college and have some money in 529 and some in coverdale IRA
the 1 st year he stayed in the dorm and i got 1 bill from the university that included tuition, fees, room, board and i paid it directly from 529 account.

In the 2nd year he will stay in an apt. How do i keep paper trail of withdrawals . I know the amount of rent i can pay from 529 should be similar what the college dorm room costs.

Do i pay be credit card or from checking account and withdraw from 529/coverdale and pay to myself?

Similarly how do I keep paper trail for paying for books? pay be credit card and keep the receipt and withdraw from 529 and pay myself?

Sorry if i sound confused but i am
Thanks
usha
PS does not qualify for any grants, scholarships. i am doing FAFSA but have no hope
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement