Court case rules on Sec. 529 room and board
Although they did not keep detailed records of room and board expenses, the court was satisfied on the basis of credible testimony that the taxpayers provided their daughter with $575 per month for rent, $100 month for utilities, and $100 per month for food ($775 per month total) in the year at question (2006). However, such expenses would be limited to the amount included by MSU in its cost of attendance for purposes of the penalty waiver. That particular figure was not stated in the case.