Question about 529 plan withdrawal limits...
I am attending business school starting this summer. I am fortunate enough to have more funds than the school lists in its "cost of attendance" table. I would like to withdraw more funds from the account without incurring the tax+10% penalty. I am married and below the "cost of attendance" table in plain text they the school states "If you are married and/or have dependents, you may face higher costs. The average increase in living expenses for students with partners and/or dependents is 30% above the allowances for room and board."
Does this mean I can withdraw 30% more than the room and board allowance in the table without incurring the tax+10% penalty?
