I funded a 529 college fund for my children by having scheduled monthly withdrawals taken from my checking account directly into the 529 funds. When it came time to pay for college . the easiest thing to do was to directly pay tuition with a credit card, then withdraw the appropriate amount by direct deposit back to my checking account and then make a payment to the credit card. I have just now discovered that because box 6 is checked with me as the recipient, I was taxed on the earnings even though I paid the qualified tuition. Is this correct?
