I know this has probably been covered already, but some of the topics are from years back, so I really
want to be sure of what I am allowed to use my 529 money for besides the usual Tuition and books and computer equipment.
Because of the pandemic, my daughter did 2 years at Community College. I paid out of pocket and we saved all of our 529 funds for the final two years so that she may graduate loan-free (Yay!). I assumed that we would use up everything based on the Tuition, Fees and Room and Board costs given by the school.
However, because my daughter was a transfer, she was placed in a dorm that is totally apartments. This means she does not have a meal plan per se, although we bought 25 meals for the semester and I guess can buy more if needed. What this also means is that she has unexpected expenses including buying her own food, and also buying the things she would need for an apartment, like small furniture (they provide sofas), lamps, dishes, cooking stuff, etc. We did not plan on this and frankly I wasn’t aware that they had this setup for room and board for upper classmen.
Am I able to use 529 money for the unexpected expenses, like dishes, pots and pans, small furniture, and the like? I am assuming I can use it for food, and we are saving receipts. The amount I paid to the school was much smaller than expected because it is basically just “room” and not “board”. If I can’t use that 529 money for the unexpected expenses, I am paying a lot out of pocket and will have a lot left over in the 529.
Thanks for any guidance!