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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