Any Distribution from a Qualified Tuition Plan Not Used for Qualified

question 1451

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.

---

Definitions:

Baby Boom Generation

The demographic group born during the post-World War II baby boom, approximately between 1946 and 1964.

Elderly Population

The segment of the population aged 65 and older, often considered in socio-economic analyses and policy planning.

Health-Care Inflation

The rate at which medical services and healthcare costs increase over time, often surpassing the general inflation rate.

Health-Care Expenditures

The total amount of money spent on health care services, including prevention, treatment, and rehabilitation.