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Education
My apologies, I should clarify. I made a qualifying 529 withdrawal in August 2020 for fall tuition and fees and another withdrawal in December 2020 to pay tuition and fees for spring 2021. My 1099Q amount reflects the August and December withdrawals, but the 1098T only reflects the payment received for the August payment.
IRS form 970 states the following which I assume means I can apply the December tuition fee under Education expenses.
*You must pay the qualified education expenses for an academic period that starts during the tax year or the first three months of the next tax year.
‎February 1, 2021
1:57 PM