Martha Participated in a Qualified Tuition Program for the Benefit

question 93

Multiple Choice

Martha participated in a qualified tuition program for the benefit of her son.She invested $6,000 in the fund.Four years later her son withdrew $8,000, the entire balance in the program, to pay his college tuition.

• A)Martha must include the $2,000 ($8,000 - $6,000) in her gross income when the funds are used to pay the tuition.
• B)Martha must include the portion of the $2,000 accumulated each year in her gross income (i.e., interest).
• C)Martha's son must include the $2,000 ($8,000 - $6,000) in his gross income when the funds are used to pay the tuition.
• D)Neither Martha nor her son must include the $2,000 in gross income.
• E)None of the above.

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Definitions:

Schizophrenia

A mental disorder characterized by distorted thinking, perceptions, emotions, language, sense of self, and behavior.

Treat

To engage in an activity or provide something enjoyable to someone as a pleasure or for celebration, often involving food, entertainment, or gifts.

Antipsychotic Medication

Drugs used primarily to treat symptoms of psychosis, such as those found in schizophrenia and bipolar disorder.

Symptoms

The physical or mental features that are regarded as indicating a condition or disease.