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:

Ethnicity

Sociological factors such as nationality, culture, language, and ancestry.

Skin Color

A characteristic of human physical appearance which ranges in variation from the darkest brown to the lightest hues, determined by the amount of melanin in the skin.

Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group.

Deep-Level Diversity

Differences between individuals at a more profound level, including values, beliefs, and attitudes, as opposed to observable characteristics.