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sueny
New Member

Can I correct a 1099-Q and 1098-T Timing Issue?

 I took distribution from 529 at the end of December 2018 and paid college for spring semester.  College did not post payment  until Jan 2, 2019 so it doesn't show on 2018 1098-T. Now Turbo Tax is calculating an excess distribution even though it was all used for qualified educational expenses. What can I do?

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Accepted Solutions
KrisD
Intuit Alumni

Can I correct a 1099-Q and 1098-T Timing Issue?

You can use the link under Box 1 on the 1098-T screen that reads "What if this is not what I paid?" and enter the payment amount including the additional payment you made. 

Be sure to keep any documents that show that distribution and payment to the school. 

Be sure to use that same link next year to adjust for the payment you are taking this year. 

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1 Reply
KrisD
Intuit Alumni

Can I correct a 1099-Q and 1098-T Timing Issue?

You can use the link under Box 1 on the 1098-T screen that reads "What if this is not what I paid?" and enter the payment amount including the additional payment you made. 

Be sure to keep any documents that show that distribution and payment to the school. 

Be sure to use that same link next year to adjust for the payment you are taking this year. 

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