I paid my daughter's Spring 2023 tuition in 2022 from a 529. She received a refund in 2023. This refund was redeposited into the 529. TurboTax will not allow me to report the redeposited refund on the 2023 return because it exceeds the amount that was withdrawn from the 529 in 2023.
You'll need to sign in or create an account to connect with an expert.
You have nothing to report, just don't enter it in TurboTax.
References:
You have nothing to report, just don't enter it in TurboTax.
References:
I really don't understand your answer. Are ypou saying I do not need to report the refund?
Q. Are you saying I do not need to report the refund?
A. Yes, because it was re-deposited in the 529 account.
Turbo tax specifically asks for this information.
I assumed the re-deposit (rollover) made in 2023 was for 529 funds withdrawn in 2022 and reported on your 2022 tax return. Since you are now reporting your 2023 1099-Q, that refund has nothing to do with 2023. Entering it is just going to make a mess. TT can't handle this situation, you have to know what you're doing.
The 1099-Q is just an informational document. You do not have to enter it.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
shre53609
New Member
jburatti
Returning Member
jtax
Level 10
jflipper360
New Member
spaq1234
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.