Eventually you'll have to pay tax on your distributions from that account, including all the earnings that build up over the years. (fairmark.com)
The retirement account holder may be bound to pay income tax on distributions paid during the year. (investopedia.com)
The child will not owe tax on any distribution from the account if it is equal to or less than the child's qualified education expenses at an eligible educational institution for the year. (starone.org)