George receives a $1,500 distribution from his educational savings account. He uses $1,200 to pay for qualified

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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

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...

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