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:

Capital

Assets used for the production of goods and services, such as buildings, machinery, and equipment.

Purchase Price

The amount of money that is paid to buy a good, service, or asset.

Rental Price

The cost associated with leasing or renting a property, such as a house, apartment, or commercial space.

Capital Stock

The total amount of physical goods or assets that a company or country uses in the production of goods and services.