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807ekm1996
New Member

I have tuition and room and board costs equal to more than my 529 distribution. Therefore why do I have "other income" above my wages?

 
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Anita01
New Member

I have tuition and room and board costs equal to more than my 529 distribution. Therefore why do I have "other income" above my wages?

When you entered the 1098-T for this student, you were asked to choose how much of the expense you wanted too use for the education credits.  If you said all of them, or didn't leave enough to use against your 529 money, then the 529 income becomes taxable.

You can review your entries by typing the words education expenses in the search window on the  upper right, then selecting the Jump To.

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Anita01
New Member

I have tuition and room and board costs equal to more than my 529 distribution. Therefore why do I have "other income" above my wages?

When you entered the 1098-T for this student, you were asked to choose how much of the expense you wanted too use for the education credits.  If you said all of them, or didn't leave enough to use against your 529 money, then the 529 income becomes taxable.

You can review your entries by typing the words education expenses in the search window on the  upper right, then selecting the Jump To.

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