You'll need to sign in or create an account to connect with an expert.
There is no federal deduction for making a contribution to a 529 plan. So, you do not enter it anywhere in the federal program. Some states allow a deduction on the state return. If your state is one, it will come up in the state interview. For a list, see:
_____________________________________________________________________________________________________
If you asking about a 529 plan distribution (withdrawal), type> 1099-Q <in the find box.
Alternatively; you can just not report the 1099-Q,
at all, if your student-beneficiary has sufficient educational expenses, including
room & board (even if he lives at home) to cover the distribution. You
would still have to do the math to see if there were enough expenses left over
for you to claim the tuition credit. 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. But, it will prepare a 1099-Q worksheet for your records, in case of
an IRS inquiry.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
femzags
New Member
user17760561922
New Member
riveraciara091
New Member
wendysuerobertson
New Member
yacauwi
New Member