I need help on my Memo research

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Internal Research Memo This is memo you must work on: You are a summer intern for Local CPA's, LLC and have been given the following research assignment by the tax partner, John Local. The client is Joe and Beth Parent. They have been funding an Ed IRA (also called a Coverdell Education Savings Account) for their son, Eric, for several years. Eric has been offered an academic scholarship at a small, private college in Michigan. The scholarship covers Eric's tuition and fees only; it does not cover books, meals, housing or other incidentals. Eric will not be able to commute to school, but the college does not have any campus-sponsored housing. What expenses will the Parent's be able to use the Ed IRA for? Write an internal memo to the partner assigning the project to you. For purposes of grading, you will be graded on grammar and spelling, formating and presentation, use of appropriate research format (IRAC), citation of appropriate legal authority, legal analysis, and conclusion (heavy emphasis on analysis). Note: for purposes of this memo, the Tax Cut and Jobs Act of 2017 is not believed to have changed any of the relevant law. These are the requirement you must meet it!!
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Explanation & Answer

Attached.

CPA FIRM, LLC

Memo
To:

Partner

From: DAL
Date: 2/1/2018
Re:

Expenses covered by Ed IRA for Client Joe and Beth

Issue
Joe and Beth have been funding an Ed IRA (also called a Coverdell Educational Savings
Account) for their son, Eric, for several years. Eric has been offered an academic scholarship at a
small, private college in Michigan. The scholarship covers Eric's tuition and fees only; it does
not cover books, meals, housing or other incidentals. Eric will not be able to commute to school,
but the college does not have any campus-sponsored housing. The following is an analysis that
determines the expenses for which, the parents should use the Ed IRA.
Rule
Under 26 U.S. Code § 529(e) 3 (A) (i), the expenses eligible for Ed IRA include tuition, books,
fees, supplies as well as the necessary equipment for enrolment. From clause (ii), special nee...


Anonymous
Excellent resource! Really helped me get the gist of things.

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