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529 Distributions and Taxable income
I made 529 withdrawals this year for qualified education expenses and received 1099-Q and 1098-T. When I enter the relevant information Schedule 1 shows taxable income with the phrase "Qual State Tuition Prgm from 1099-Q". My 1099-Q expenses are greater than shown on 1098-T but I believe all my 1099-Q expenses are qualified expenses. I am the recipient, not the designated beneficiary. How is Schedule 1 making that calculation?
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‎February 15, 2021
3:06 PM