This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements regarding the qualified tuition plans (QTP) isincorrect? (Read 31 times)

scienceeasy

  • Hero Member
  • *****
  • Posts: 565
on: Sep 13, 2020
Which of the following statements regarding the qualified tuition plans (QTP) is incorrect?
◦ Distributions can be made tax-free to pay for room and board at college.
◦ Distributions made from a QTP for college tuition will be tax-free in addition to qualifying for the American Opportunity credit or lifetime learning credit.
◦ Katie's parents had established a QTP for Katie, but she has received a "full-ride" scholarship.  Katie's parents can name her sister as a replacement beneficiary of the QTP.
◦ Distributions of income not used for qualified higher education expenses are taxable and subject to a 10% penalty.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by scienceeasy on Sep 13, 2020

wilsonbho

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


scienceeasy

  • Member
  • Posts: 565
Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

frankwu0507

  • Member
  • Posts: 322
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Ratings of Perceived Contradictions in Political Statements Ratings of Perceived Contradictions in Political Statements
How to convert verbal statements into algebraic equations (Part 1) How to convert verbal statements into algebraic equations (Part 1)
How to convert verbal statements into algebraic equations (Part 3) How to convert verbal statements into algebraic equations (Part 3)
Prepare for weekend plans when hours feel like minutes Prepare for weekend plans when hours feel like minutes
A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat ... A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat ...
Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ... Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ...
Video: Skin Cancer

For a complete list of videos, visit our video library