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226Ra
February 21, 2021
Question

529 plan - withdrew in Dec but didn't pay tuition until Jan

  • February 21, 2021
  • 1 reply
  • 0 views

I withdrew 529 money in December for a tuition bill that wasn't paid until January. It's looking like this was a rookie mistake. Is there anything I can do retroactively to recover the lost tax benefit?

    1 reply

    Hal_Al
    Hal_Al
    Employee
    February 21, 2021

    You can put the money back within 60 days  of taking it out. This is treated as a rollover. 

    2
    226RaAuthor
    February 21, 2021

    Thanks! To be clear, if I go this route, will I still take the tax hit this year, but recoup the losses next year? 

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