AMT/ Schedule A deductions 529 plans

If you make a withdrawal for college expenses from a 529 plan will the income portion of the withdrawal adversely affect the amount of Schedule A deductions you can use or advesely affect you AMT liability?

Dwofsey,

Distributions from a 529 plan and used to pay qualified college expenses are not taxable income. There would be no impact on Schedule A or AMT.

For more information see IRS Pub 970, Tax Benefits for Education, page 49.