1099T 1099Q 529 Final full distribution
I claim my child who graduated in Spring 25 as a dependent since I pay all the tuition and finances. I tried to distribute all of 529 toward tuition for spring semester, which was the final graduation semester, but 529 would only transfer certain amount leaving a small balance in account. I paid the rest of the tuition using my bank account. My child received both the 1098T and the 1099Q. My child is filing their own tax form as a dependent.
I have questions about who enters what and why the software isn't asking all the questions needed to calculate taxes. I have had to go in thru the forms to input information.
1. I will enter the 1098T as usual, but do I answer YES to did you receive 1099Q? My child received the form not me but I should enter it on my taxes same as I do the 1098T?
2. So will my child enter either of the forms on their taxes?
3. Where and how do I enter this if the software isn't asking me questions.
4. Do I deduct the amount on the 1099Q from the tuition amount paid to the school on the 1098T? If so then where?
5. What do I do with the $214.47 from the 1099Q in box 2? Is this the amount they wouldn't transfer so we had them send a check directly to us so it could be used for tuition? That amount is less than the tuition amount I paid thru the bank.
6. 1098T has 250.00 in box 6. Only thing I can think of is the internship required students to park in a garage and they all had to submit the receipts to be reimbursed. It is listed on the college billpay as CNS TRVL STP. What am I supposed to do with it?
Thank you for any help. This has been a very upsetting twist and complication.
