As noted, prefer to not claiming son as dependent. Therefore, 1099-Q entry doesn't provide an option on my tax return to state he is the beneficiary. Only me and my wife is listed.
I guess I can claim him as dependent just to make the 1099-Q and 1098-T entry work properly. My income is too high to benefit from the added dependent. He will lose out on the $1800 Covid19 stimulus credit as a dependent.
Regarding if I can claim him as dependent. The nebulous question of "who" (me or my college son) provided the 529 $ for financial support looms. No clear guidance.
Safest audit path is probably me claim him as dependent, gain no tax benefit on my return, he loses out on Covid19 stimulus credit. Very conservative but safe but probably the right thing to do given our income level and purpose of Covid19 relief.
