I just received a letter from the IRS, indicating that the 1099-Q info that they received directly, indicated that I had received earnings of almost $24,000 as 529 plan reimbursements for my kids' college educations. That is exactly what I had put into Turbotax last year (I re-checked all of the numbers) before filing my return. Yet, somehow Turbotax listed "Qual State Tuition Pgm from 1099-Q" on line 8z of my 2023 federal tax return as being only $2,053. Does anyone have any idea how Turbotax could have messed this up? For the life of me I can't figure out where the $2,053 number came from.
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Before you respond to the IRS, please talk to the people at TurboTax Audit Defense. See if they can figure it out.
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