On page 12-5 of TTB it says you can use 529 funds to pay room and board and the amount is the greater of the room and board allowance as set byt the school or your off campus costs. I always thought it was the lesser of the two. Any comments?
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From Publication 970 Page 45
The expense for room and board qualifies only to
the extent that it is not more than the greater of the
following two amounts.
a. The allowance for room and board, as determined
by the school, that was included in the cost of attendance
(for federal financial aid purposes) for
a particular academic period and living arrange-
ment of the student.
b. The actual amount charged if the student is resid-
ing in housing owned or operated by the school.
Comment