re: Best Plan for Kid's College Funds

From what I can tell in the 529, if the kid gets a scholarship you get a form 1098 from the school for the price of tuition and fees and it lists the scholarship amount. Need to check with poodle or CPA but I think you can take a distribution for the cost of tuition and fees and room and board (but not computers?) without penalty from the 529 (eta: even though theres a scholarship) Any amounts leftover can be transferred to siblings or relatives even yourself for use for accredited higher education costs for 30 years. Then just the gains are taxed with 10% penalty (eta: is it just the gains or contributions plus gains coming out with 10% penalty, poodle?) . So there's a case for not overfunding these things if chance of no accredited higher education for anyone else.

Utma is subject to kiddie tax but can be used for secondary too but belongs to kid at the age of majority. I almost think keeping the money in our names in a designated account would be better.

Also can't $10,000 of the Roth or IRA be used toward higher education without penalty as well?