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529 & GI Bill
Scholarships and the Post 9/11 GI Bill covered 100% of my daughter's school costs in Fall 2020. I have a 529 with her as the beneficiary, and made a distribution directly to her account for an amount less than her total costs. I understand that the earnings (Box 2 of the 1099-Q) from that distribution are taxable.
My question is where do I reflect the Post 9/11 GI Bill payments on the return (for the purposes of determining how much of the 1099-Q earnings are taxed)? Will the 1099-T from the school show the amount?
‎January 9, 2021
8:59 AM