The Earnings from a Qualified State Tuition Program Account Are

question 27

True/False

The earnings from a qualified state tuition program account are deferred from taxation until they are used for qualified higher education expenses.At that time, the amount taken from the fund must be included in the gross income of the person who contributed to the account.

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Definitions:

Purposes

The intended or desired outcomes or goals of actions, projects, or entire organizations.

Dollar Amount

Represents a numerical monetary value and is used in financial transactions to indicate the currency value.

Fiscal Year

A one-year period used by governments and businesses for accounting purposes, which may or may not align with the calendar year.

Landfill

A disposal site where waste is buried under layers of earth to prevent contamination.