New money to start UGMA 529 for two children ages 7 & 10.
I am trying to find out if funds can be used to buy them each a computer for education purposes.
I have only been able to find that this is a gray area and that only tuition can be an eligible expense for K-12.
Is there any guidance anyone can offer to support the use for other expenses as above.
And if it isn't an eligible expense since these are new funds with no earnings, couldn't the custodian (paren) withdraw the funds to buy the computers without a 10% Federal excise penalty since there would not be any earnings?
I also read that some advocate setting up separate 529s for college and K-12. What are your thoughts on this?