Any Distribution from a Qualified Tuition Plan Not Used for Qualified

question 3

True/False

Any distribution from a Qualified Tuition Plan not used for qualified higher education expenses is both included in income and subject to a 10% penalty.

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Definitions:

Aggregate

A total or sum made from individual parts.

Blank Slate

The idea that individuals are born without built-in mental content and that all knowledge comes from experience or perception.

John Locke

A 17th-century English philosopher and political theorist, known for his work on liberalism and the theory of knowledge.

Well-Being

refers to a positive state that encompasses physical, social, and psychological health and happiness.