Question
Want to use tax-free assistance (scholarships, grants) 3 yrs. after graduation to avoid penalties
My son was beneficiary of CA Scholarshare 529 plan. He received so much money in grants & scholarships that over $40,000 was left. Could have withdrawn while he was in college but I left the $ in the plan in case he went on for a graduate degree. Now, 3 yrs. later he has a great job & doesn't need a graduate degree. We needed it for emergency and withdrew the money last year. Is there any way we can get credit for the scholarships & grants now to avoid the penalty for not using the $ for education ?
