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Not a dependent, but I am recipient of 529
My son married in 2020 so he is no longer a dependent. His 529 has me as the recipient and him as the beneficiary. The money is deposited into my account, then I pay the college. It seemed very confusing when I was doing my Turbo Tax. It basically erased the prior year info regarding him since he is no longer a dependent. Don't I have to show this 529 qualified withdrawal since I am the recipient? I would think the IRS would consider that as income if I didn't?
March 13, 2022
2:44 PM