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jrpnrd
New Member

1098T, 1-1099Q

if all school expenses are covered by 529 program, do i  have to enter anything on my tax forms

CatinaT1
Expert Alumni

1098T, 1-1099Q

No. If you have no out of pocket education expenses, you will not qualify for an education credit, so there is no need to enter anything.

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Hal_Al
Level 15

1098T, 1-1099Q

Q. if all school expenses are covered by 529 program, do i  have to enter anything on my tax forms?

A. No.  The 1099-Q and 1098-T are only informational documents. The numbers are not required to be entered onto either the student's or parent's tax return. 

 

But, at tax time, you are allowed to re-allocate the expenses for the best tax benefits.  That is, you may still be eligible for a generous tuition credit by paying a little tax on the 529 earnings and/ or the student's scholarship money.

 

See above, for a full explanation. 

 

 

 

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