Can I enter a 1099-T 2021 for a 529 1099-Q reimbursement? I didn't request reimbursement for my daughter's 2021 tuition until 1/22 so it is in the 2022 1009-Q.

My daughter started full time at UCSB in the fall of 2021. We paid all her expenses, including tuition. We kept precise records. But we didn't ask for reimbursement from our 529 until January of 2022 (once all her first semester bills were paid). Now we have two 1098-Ts from the school, one from 2021 and one from 2022. However all the expenses were paid back on a single 2022 1099-Q from the 529 plan and we received all the money in 2022. How do I enter the 1098-T from 2021 to align my reimbursements listed on the 2022 1099-Q?

177

Level 15

Mar 6, 2023 4:43:15 PM

Technically, you have a problem. From Pub 970 (page 60): To determine if total distributions for the year are more or less than the amount of qualified education expenses, you must compare the total of all QTP distributions for the tax year to the adjusted qualified education expenses.

But, you plenty of company. See previous discussions at:

https://ttlc.intuit.com/community/college-education/discussion/529-provider-distributed-funds-on-12-30-for-spring-semester-resulting-in-a-mismatch-between-1099q/01/2200938/highlight/false#M41204

https://ttlc.intuit.com/community/college-education/discussion/i-took-a-529-distribution-in-2021-for-a-bill-due-jan-1-2022-is-there-a-way-to-reconcile-the-tax/01/2664891/highlight/false#M46863

https://www.savingforcollege.com/article/timing-of-529-plan-distributions-must-match-qualified-expenses

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Can I enter a 1099-T 2021 for a 529 1099-Q reimbursement? I didn't request reimbursement for my daughter's 2021 tuition until 1/22 so it is in the 2022 1009-Q.