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Income exceeds max limit for college deductions?
I withdrew 45,000 from my daughter's 529 for her tuition which was 37,000 as reported on the 1099-Q. My AGI for last year was 600,000. Although I had other qualified college expenses Turbotax won't allow me to enter any additional college expenses and as a result I'm being taxed on the 8,000 of 529 withdrawals in excess of the reported tuition. I do not see that the IRS has any income limits on using 529 withdrawals to cover legitimate college expenses. How do I force Turbotax to allow me to enter college expenses because my "income exceeds the maximum limit"
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‎September 29, 2024
4:03 PM