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Old 03-02-2009, 02:09 PM
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529 Eligibility specifics

My daughter will be starting college in the fall. We have a 529 account for her to cover her expenses. Based on several searches I've done here and on the web, I know that room and board, and transportation are eligible expenses.

However, if she is living at home, is lunch at school a covered expense?

If she drives from our house to a light-rail stop and takes light-rail (or a bus) to school, are mileage (or gas), parking, and her light-rail or bus pass considered eligible transportation expenses?

My employer does a partial tuition reembursement for dependents. If tuition, books and fees cost 'X' and my employer will reemburse 'Y' at the end of the semester, can I use 529 funds to pay 'X' at the beginning of the semester and then use 'Y' (reembursed at the end of the semester) to decrease my 529 needs for the next semester or do I need to decrease 'X' by 'Y', use 529 funds for this amount, cover the difference myself and then get paid back by my employer at the end of the semester? Yes I know it's confusing.

Or is there somewhere that I can find very specific examples?


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