I have over $12,000 left in a 529, how do I get it out without paying taxes?

Question

I have over $12,000 left in a 529, how do I get it out without paying taxes?

Answer

Use it for education! One neat feature of a 529 account is that one can often designate more than a single beneficiary so in the atypical event that educational expenses were overestimated the benefit can often be shifted to other family members. Note that this is general information and you may wish to consult your plan documents and/or tax advisor for more specific help tailored to your situation.