Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
How 529 Plans Cover Your Child's First Apartment Furnishings
Episode 150 of The College Savings Podcast zeroes in on a 529-approved expense that catches many families off guard: furnishing your student's first apartment. Lucas and Luna walk through the specific IRS rules for what counts as a qualified room-and-board cost, using a concrete example of a $3,200 furniture haul that includes a bed frame, desk, and mini-fridge. They explain why the IRS publishes annual school-specific Cost of Attendance figures that set the ceiling for how much you can withdraw tax-free, and they flag common pitfalls like buying furniture before your child enrolls…
The skinny
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