Audited over Scholarshare 529 withdrawals?

fireandrain
Thu, 08 Oct 2009 17:55:01 +0000

I called the administrator of our 529 account to figure out how this all works when you use funds from that account for room and board that’s not paid directly to the school. I was told to keep receipts/documentation to prove that we spent the money on housing, books and food. I was told that I may never be asked to provide this documentation, but that it is prudent to have it just in case.