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Get your taxes done using TurboTax
I think Turbo Tax handles 529s incorrectly. It seems to always make it taxable, even if the expenses exceed the amount of the 1099-Q basis and earnings reported. I have tried to resolve this problem for years. They at first told me that if I take an educational credit than I have to tax some 529 as it is "double-dipping". This year I took off the educational credit to try and make none of it taxable and it did not change the amount that was taxed. That form did not change at all. This is very frustrating.
May 27, 2021
3:09 PM