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Message
re: Earnings on 529 plans are not taxable
Posted on 11/6/25 at 5:16 pm to dewster
Posted on 11/6/25 at 5:16 pm to dewster
quote:
Also - I think you can use this for room and board and pay your own company market rent if you own a home near a campus and your kid stays there. Since my RE investment company will probably be inherited by my kids, I wonder if this is a method of returning that cash to them without restrictions so they can have spending money for whatever they want while I take a little haircut on rent.
You can use it for room & board and no issue paying an LLC you own, but you are limited to what the school publishes as cost of attendance.
Cost of Attendance
Looks like it is about $12k per year at LSU for the current school year.
0
Posted on 11/6/25 at 10:05 pm to Black n Gold
Generally only mutual funds are available as investments and that triggers some posters
Posted on 11/7/25 at 5:33 am to DarthRebel
quote:
Kind of sucks if you have $100,000 in one and your kid gets school covered by scholarship
You can pull the amount of a scholarship out of the 529 without taxes.
Posted on 11/7/25 at 5:58 am to NBR_Exile
quote:
You can pull the amount of a scholarship out of the 529 without taxes.
You don’t have to pay the 10% penalty but you still pay taxes on earnings.
Posted on 11/7/25 at 6:21 am to TigerGrl73
quote:
You don’t have to pay the 10% penalty but you still pay taxes on earnin
True. I figured that was self explanatory No one beats the fed.
Posted on 11/7/25 at 6:44 am to dewster
quote:
I kind of stress about both of them having similar amounts in their accounts when they turn 18, adjusted for inflation. Going to be challenging.
Easy, don’t stress about it. You are already setting them up and have only the best intentions. Criticizing yourself over this level of detail is unnecessary.
If anything, put more in the older ones 529 because you could choose to pass it down to the younger child.
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