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Get your taxes done using TurboTax
529 distributions used to pay education expenses for someone other than the designated beneficiary are non-qualified distributions.
The earnings part of the distribution is taxable and subject to a 10% penalty.
You enter your form 1099-Q and enter no education expenses. TurboTax will subject the earnings to taxation and the 10% penalty.
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March 18, 2025
11:02 AM
1,836 Views