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Get your taxes done using TurboTax
Yeah, that is the problem. If I add up both year's expenses, they total ~$50K which is the amount I pulled as a lump sum from the 529. Is 1099-Q is only for the 1 year and says he had tuition of ~$10K. With room and board, the $50K is correct to cover both years but the IRS will only see the ~$10K. I'd think that would be a big enough disconnect for them to investigate. If you are saying that I can just report the $50K and not include the 1099-Q, then that would be good. Thx.
‎April 6, 2022
11:25 AM