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Which of the following statements regarding qualified tuition programs is incorrect? A) distribution from income earned by a qualified tuition program are tax-free if used
Which of the following statements regarding qualified tuition programs is incorrect?
A) distribution from income earned by a qualified tuition program are tax-free if used for qualified higher education expenses.
B) distributions of income are taxed to the donors if the proceeds are not used for higher education expenses.
C) a qualified tuition program may be established by parents or grandparents.
D) contributions to a qualified tuition program are distributed tax free
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