My financial institution jumped the gun for Spring 2020 tuition, and they distributed funds to me from a 529 on Dec 30, 2019. However, I did not make the pending tuition payment until Jan 3, 2020. Now, the 1099-Q for 2019 shows a higher amount than actual education expenses for 2019. Will this impact my taxes for 2019? Basically, will I have to pay any penalties for having higher 529 distributions than education expenses in 2019? Also, is there a way to account for this discrepancy in TurboTax (e.g., specify that part of the 529 distributions for 2019 were / will be used for 2020 education expenses)?
