No. That's not going to match form 5329. It goes on line 8z of Schedule 1. There is a question in the 1099-Q interview about ABLE. You may have answered that wrong.
To enter the taxable amount ($9996) on line 8z, not using the 1099-Q, interview:
In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in Home & Business)
- Wages & Income
- “I’ll choose what I work on” Button
Scroll down to:
-Less Common Income
-Misc Income, 1099-A, 1099-C
- On the next screen, choose – Other reportable income
- On the next screen, click yes
- On the next screen, you'll get blanks to enter the amount ($9996) and a description ("Taxable portion 529 distribution from 1099-Q")
You would only want to do that if you are planning on using the manually entered form 5329 that you mentioned earlier.