You may be able to delete the 1099-Q, the 1098-T and the student loan interest.
- If the 1099-Q was used for qualified expenses, it can be deleted from your return. Only taxable income from the 1099-Q must be reported. See Reporting the 1099-Q for more.
- You are not required to file the 1098-T, if you are not using any education credit, you can delete the 1098-T.
- The student loan interest paid by the 529 is not deductible. Only interest paid with funds other than the 1099-Q qualify for a deduction.
You may have some education credit available You did not mention room and board. See my 529 example. You may have had a little bit of money left for some AOTC credit.
I tried to replicate your situation and was not able. I entered a 1099-Q with education expenses and student loan interest without a 5329 generating. There is more to this story. Please read the links above and reply back with any additional information or help needed.
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