Hi,
In 2022, an overpayment of my sons tuition was made from a 529 plan. I was refunded the difference from the school and it was not returned to the 529 within 60 days. What do I need to do now to report is as income or is that necessary?
Turbo tax states "Looks like your 1099-Q is taxable". Will that program auto adjust income for me and complete the proper form or do I need to do that manually? The 1098-t only reported tuition paid and a credit for scholarships and not room and board that was also paid from the 529.
