Qualified withdrawal definition

Qualified withdrawal means a withdrawal from an account to pay the qualified disability expenses of the designated beneficiary of the account.

Qualified withdrawal means a withdrawal from an account to

Qualified withdrawal means a distribution that is not subject to a penalty or an excise tax under section 529 of the internal revenue code, a penalty under this act, or taxation under the income tax act of 1967, 1967 PA 281, MCL 206.1 to 206.532, and that meets any of the following:

Examples of Qualified withdrawal in a sentence

• Qualified withdrawal (please select a reason below) You are age 59½ or older.

• Qualified withdrawal" means a withdrawal by an account owner or beneficiary for qualified higher education expenses or as otherwise permitted under Section 529 of the Internal Revenue Code of 1986, as amended, without a penalty required by the section.HISTORY: 2001 Act No. 72, Section 3(A).

• Qualified withdrawal" means a withdrawal from an account to pay the qualified higher education expenses of the designated beneficiary of the account, a withdrawal made on account of the death or disability of the designated beneficiary, or a withdrawal made on account of a scholarship, but only if the withdrawal is made in accordance with this part 3.

• An Account Oowner making a Withdrawal shall have the sole obligation to (i) determine whether the Withdrawal is a Qualified withdrawal or a Nonqualified withdrawal; (ii) make any required report to the Internal Revenue Service and any applicable state tax authority regarding the Withdrawal and the amounts of any earnings included therein; and (iii) pay any applicable federal or state income taxes or penalty taxes that may apply.

• Qualified withdrawal" means a withdrawal from an account to pay the qualified higher education expenses of the designated beneficiary of the account.(15) "Trust" means the family education savings trust established by [section 1].

More Definitions of Qualified withdrawal

Qualified withdrawal means a distribution that is not subject to a penalty or an excise tax under section 529A of the internal revenue code or taxation under the income tax act of 1967, 1967 PA 281, MCL

Qualified withdrawal means a withdrawal made as prescribed under ORS 178.355 and

Qualified withdrawal or "qualified distribution" means a

Qualified withdrawal means a withdrawal from an account to pay the qualified higher

Qualified withdrawal means a withdrawal made as prescribed under ORS 348.870 and made:

Qualified withdrawal means a withdrawal from an account that is not subject to a penalty under this act or taxation under the income tax act of 1967, 1967 PA 281, MCL 206.1 to 206.713, and that is a withdrawal from an account that is made at least 1 year after the account was opened and designated as a first-time home buyer savings account and the withdrawal is used to pay the eligible costs of the qualified beneficiary incurred at least 1 year after the account is designated.

Qualified withdrawal means a withdrawal from the Account that is used to pay the Qualified Higher Education Expenses of the Beneficiary.