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Which of the following is FALSE about qualified tuition programs (QTPs)? A. There is no income limit for contributors. B. Accounts must be set up

Which of the following is FALSE about qualified tuition programs (QTPs)?

A. There is no income limit for contributors.

B. Accounts must be set up with the beneficiary's state of residence.

C. Funds may be used for room and board.

D. Up to $10,000 per year may be used for elementary or secondary school tuition.

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