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2 pts D Question 7 Melissa took a $1,500 distribution from her educational savings account and used $1.200 to pay for qualified education expenses Before
2 pts D Question 7 Melissa took a $1,500 distribution from her educational savings account and used $1.200 to pay for qualified education expenses Before the distribution, Melissa's account balance was $4,000, of which $1.,000 was earnings. Calculate the following a The tax-free return of capital b. Her new adjusted basis for her savings account c. Distibution of earnings potentially subject to tax d. The excludable portion of the earnings e. The taxable portion of her earnings HTML Editor agraph
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