What Happens If You Use A 529 For A Non-Qualified Expense

What happens if you use your 529 plan for non-qualified expenses? This video unpacks the potential penalties, taxes, and consequences of withdrawing 529 funds for expenses that don't meet the IRS's criteria. We’ll explain how to identify qualified expenses, avoid unnecessary penalties, and what alternatives you have if you need to access your 529 savings for non-education purposes. Stay informed and protect your hard-earned savings with these essential tips!