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Am I taxed if I take money out of my child's 529 Plan and give it directly to him?

529 Plan
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William Keats
I am assuming you are the 529 plan owner. Your son is the beneficiary. The contributions in the plan must be used for educational purposes. This does not include giving the money directly to your son.
If the monies are not used for educational purposes, the distribution will be considered taxable income, taxed to the beneficiary. Money must be used for tuition, fees, books, room-and-board to be non-taxable.
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