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accr55f
New Member

Do I still have to add 1098-T for my daughter if I paid it with my 529 account

 
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MargaretL
Expert Alumni

Do I still have to add 1098-T for my daughter if I paid it with my 529 account

Yes, you do. Once 529 plan distribution is entered, please be sure to visit Education Expenses so that you can qualify for an education credit.  The 529 distribution data entry is done to show that the distribution is not taxable; but it doesn't give you a credit for the qualified education expenses for the student. Form 1098-T will if you qualify; data entry is as follows:

  1. Federal Taxes
  2. Deductions and Credits
  3. Education
  4. Expenses and Scholarships (Form 1098-T)

 

 

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1 Reply
MargaretL
Expert Alumni

Do I still have to add 1098-T for my daughter if I paid it with my 529 account

Yes, you do. Once 529 plan distribution is entered, please be sure to visit Education Expenses so that you can qualify for an education credit.  The 529 distribution data entry is done to show that the distribution is not taxable; but it doesn't give you a credit for the qualified education expenses for the student. Form 1098-T will if you qualify; data entry is as follows:

  1. Federal Taxes
  2. Deductions and Credits
  3. Education
  4. Expenses and Scholarships (Form 1098-T)

 

 

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