What to do with checks made out to 529 college savings plan beneficiaries?
What to do with checks made out to 529 college savings plan beneficiaries? My 3 kids’ aunt had a 529 account for each of them, and now that the kids are paying for college, she closed the accounts out, and we received a check made out to each child. I realize the amounts may be taxable for my kids (not huge amounts, ~2K each), but I want to make sure I handle this correctly. Can they just deposit the checks in their ba…