Solution-What is George tax-free return of capital

What is George tax-free return of capital

Reference no: EM132673917

Problem - George receives a $1,500 distribution from his educational savings account. He uses $1,200 to pay for qualified higher education expenses. Immediately prior to the distribution, George's account balance is $5,000, $3,000 of which is his contributions. What is George's tax-free return of capital from the distribution?

a. $1,500

b. $1,200

c. $900

d. $750

e. $600

Reference no: EM132673917

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What is George tax-free return of capital

Reference no: EM132673917

Reference no: EM132673917

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