jlar
Level 3

Education

@Carl LOL... I never said I completely understood this...but I'm trying!

 

Yes, the 529 went straight to the school. So yes, its part of Box 1 on the 1099-T I guess. It's the money that 'we paid', regardless of 529 or cash. Her first year I paid all with cash and all that showed up in box 1 (along with the scholarship she gets from the school).

 

A lot of people have said "Don't enter the 1099Q at all". Then I here people say - a number one red flag to the IRS is when you don't report all the forms you receive.

 

But I'll stop there. So now what? So the 1099-Q is embedded in the 1099-T that I enter into my form?

 

Thanks for any clarity you can provide.