Ask Question
6 January, 16:08

Which is a tax-free savings account that can only used for educational expenses?

A) Merit-based scholarships

B) Needs-based grants

C) Federal grants

D) A 529 plan

+3
Answers (1)
  1. 6 January, 16:34
    0
    D) A 529 plan

    Explanation:

    A 529 plan is a tax-free savings account that can only be used for educational expenses.

    It is authorized by Section 529 of the Internal Revenue Code and mainly sponsored by the states to encourage savings for future educational costs.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which is a tax-free savings account that can only used for educational expenses? A) Merit-based scholarships B) Needs-based grants C) ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers