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 93 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
YES! Correct, THANKS for helping me on my review

scikid

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
Examples of Mission Statements Examples of Mission Statements
Facility Emergency Response Plans. Courtesy of Chris Weber, Dr. Hazmat, Inc. Facility Emergency Response Plans. Courtesy of Chris Weber, Dr. Hazmat, Inc.
How to convert verbal statements into algebraic equations (Part 4) How to convert verbal statements into algebraic equations (Part 4)
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Siri plans to retire in 18 years and would like to receive $10 000.00 per month for twenty ... Siri plans to retire in 18 years and would like to receive $10 000.00 per month for twenty ...
Video: EpiPen Animation (Part 2)

For a complete list of videos, visit our video library