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You can use UTMA funds for expenses related to the minor's benefit, such as education, healthcare, and other necessities.

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AnswerBot

5mo ago

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Related Questions

Can you use FSA funds for prior year expenses?

No, you cannot use FSA funds for prior year expenses.


Can you use FSA funds for expenses from previous years?

No, you cannot use FSA funds for expenses from previous years. FSA funds are meant to be used for eligible expenses incurred during the plan year in which the funds were contributed.


Can I use my 2022 FSA funds for expenses incurred in 2021?

No, you cannot use your 2022 FSA funds for expenses incurred in 2021.


Can I use my 2021 FSA funds for expenses incurred in 2020?

No, you cannot use your 2021 FSA funds for expenses incurred in 2020. FSA funds must be used for expenses incurred in the same plan year.


Can you use FSA funds to pay for expenses from previous years?

No, you cannot use FSA funds to pay for expenses from previous years. FSA funds are meant to cover eligible medical expenses incurred during the plan year in which the funds were contributed.


Can you use FSA funds for dental expenses?

Yes, you can use FSA funds for dental expenses such as cleanings, fillings, braces, and other eligible treatments.


Can I use my current year FSA funds to cover expenses from a prior year?

No, you cannot use current year FSA funds to cover expenses from a prior year.


How does having a UTMA account affect eligibility for FAFSA financial aid?

Having a UTMA account can impact eligibility for FAFSA financial aid because the funds in the account are considered assets of the student, which can reduce the amount of aid they receive.


Can I use my FSA for previous year expenses?

No, you cannot use your FSA for previous year expenses. FSAs are meant to cover eligible expenses incurred during the plan year in which the funds are contributed.


Can you use FSA money for expenses from previous years?

No, you cannot use FSA money for expenses from previous years. FSA funds must be used for eligible expenses incurred during the plan year.


Can you use FSA funds to pay for past medical bills?

No, you cannot use FSA funds to pay for past medical bills. FSA funds can only be used for eligible medical expenses incurred during the plan year in which the funds were contributed.


Is it a good idea to use funds from your provident fund to put a deposit down on your first house?

No. The funds in your PF Account is for retirement and not to fund your regular expenses