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Which of the following is true? I. The American Opportunity Credit can be used for up to 4 years II. 529s can be used without

Which of the following is true?

I. The American Opportunity Credit can be used for up to 4 years

II. 529s can be used without penalty for private high school expenses

Select one:

a.

I only

b.

II only

c.

I and II

d.

Neither is true

2.

Which of the following is true?

I. The Roth IRA is never a useful tool for college planning because you can not withdraw the money prior to age 59 without a penalty

II. A withdrawal from an IRA before age 59 is not taxable as long as the proceeds are used for qualified higher education expenses

Select one:

a.

I only

b.

II only

c.

I and II

d.

Neither is true

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