What are qualified withdrawals?
Qualified withdrawals are distributions used to pay for the qualified higher education expenses of the student (beneficiary) listed on the account. The account owner is responsible for reporting all withdrawals to the IRS. You should retain receipts, invoices or other documents and information adequate to substantiate that a particular expense is a qualified or non-qualified withdrawal. We cannot provide tax advice and encourage you to consult your own tax advisor before making a withdrawal or taking any other action regarding the Florida College Investment Plan.
