08/18/2026
College students are heading back to campus — and 529 dollars may be heading out the door. 🎓
If your family is using a 529 plan to help cover education costs, remember: what you spend the money on matters.
As you withdraw money from the account, keep records showing how those dollars were spent. Tuition, required fees, books, supplies and certain other education costs can qualify for tax-free 529 withdrawals — but not every college expense does.
After the year ends, you'll generally receive Form 1099-Q showing how much was distributed from the 529 plan. Bring that form, along with your records of qualified education expenses, when it's time to prepare your taxes.
Withdraw. Spend. Document. Keeping those three steps together can make things much easier at tax time.
Good tax planning doesn't begin in April. It happens all year long.
