Allowable 529 expenses

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leftcoaster
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Joined: Mon Jul 23, 2007 4:04 pm

Allowable 529 expenses

Post by leftcoaster » Fri Aug 23, 2019 12:51 pm

I know that room and board is allowable. What about things like bedsheets and mattress toppers?

miamivice
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Re: Allowable 529 expenses

Post by miamivice » Fri Aug 23, 2019 12:57 pm

leftcoaster wrote:
Fri Aug 23, 2019 12:51 pm
I know that room and board is allowable. What about things like bedsheets and mattress toppers?
There is little guidance as to exactly what qualifies but my understanding is that the room and board allowable needs to be below what the particular school on-campus cost is.

I personally would not try to claim bedsheets and mattress toppers but rather find other expenses instead, such as a more powerful computer.

alamo
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Re: Allowable 529 expenses

Post by alamo » Fri Aug 23, 2019 1:30 pm

leftcoaster wrote:
Fri Aug 23, 2019 12:51 pm
I know that room and board is allowable. What about things like bedsheets and mattress toppers?
Room and board covers the room charges (rent) and meal plan (board). Anything in the room, other than a computer required for school use would not be a 529 expense.

Topic Author
leftcoaster
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Re: Allowable 529 expenses

Post by leftcoaster » Fri Aug 23, 2019 1:31 pm

Very helpful, thanks all. Makes sense too.

BernardShakey
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Re: Allowable 529 expenses

Post by BernardShakey » Sat Aug 24, 2019 8:37 am

How about the cost of applications, specifically medical school applications ? Med school applications involve initial submittals and subsequent secondary applications and the costs can really add up. 529 eligible ?

MikeG62
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Re: Allowable 529 expenses

Post by MikeG62 » Sat Aug 24, 2019 8:42 am

BernardShakey wrote:
Sat Aug 24, 2019 8:37 am
How about the cost of applications, specifically medical school applications ? Med school applications involve initial submittals and subsequent secondary applications and the costs can really add up. 529 eligible ?
I'd say no. See here for listing of expenses that qualify and expenses that do not.

https://www.savingforcollege.com/articl ... a-529-plan
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goodenyou
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Re: Allowable 529 expenses

Post by goodenyou » Sat Aug 24, 2019 1:14 pm

I would stick to tuition, room and board and books (including computers). Also, be sure you withdraw the expenses in the same calendar year that they are used. For example, don't withdraw expenses for Fall semester after December 31 even if it is the same academic year after December 31.
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