turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I took a 529 plan distribution to pay for private school tuition. TTax says earnings are taxable. How do I correct this?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Ashby
New Member

I took a 529 plan distribution to pay for private school tuition. TTax says earnings are taxable. How do I correct this?

You can just not report the 1099-Q, at all, if your student-beneficiary has sufficient educational expenses (up to $10,000 for K-12) to cover the distribution.   When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms

Save the 1099-Q and the Tuition statement with your tax file. There is nothing more you need to do. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies