The Coronavirus-Caused 529 Plan Tax Risk You Can't Ignore
by Chris Gullotti, CFP®, Financial Adviser, Partner, Canby Financial Advisors
Apr 08, 2020
3 minutes
One of the many unfortunate but necessary consequences of the COVID-19 outbreak was the physical closure of many colleges and universities and private secondary schools. Some replaced classroom instruction with online classes, while other institutions shut their doors entirely. Meanwhile, thousands of students were evicted from campus housing.
As a result, many students (or their parents) have received or will receive partial refunds of the money they paid for this semester's tuition and room and board.
This presents a potential tax risk for parents and students who originally
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