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Education
For one daughter I had submitted her taxes prior to the COVID - send the kids home from college and issue the kids a credit. I have returned the amount back to the 529 plan. But I didn't include the amount on the 1099- Q on her taxes because I thought I was supposed to list it on my taxes because I was trying to reduce my taxes with education expenses. Now I believe tax forms have been revised to include any refunds. Do I need to amend her tax and what documentation do I use if the amount taken out of the 529 plan (with the refund now sent back) is not the value on the 1099-Q form? What value do I enter since the plan is not issuing a new 1099-Q or will this all be adjusted for 2020 forms?
‎July 9, 2020
8:38 AM